Rock Valley, Iowa Business Gets SBA-Guaranteed Funding from Peoples Bank

An SBA loan from Peoples Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Rock Valley, Iowa business owner got a $100,000 loan.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Peoples Bank, out of Rock Valley, Iowa. The loan was granted and they received $100,000 to help grow their Rock Valley, Iowa business.

SBA Loan Borrower

COMPANY TYPE: FARM MACHINERY AND EQUIPMENT MANUFACTURING
ROCK VALLEY, IA 51247

SBA Loan Lender

PEOPLES BANK
1230 VALLEY DR
ROCK VALLEY, IA 51247

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333111 - Farm Machinery and Equipment Manufacturing

Loan Approval Date

5/13/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Peoples Bank and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

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Good Banks for Small Business in Rock Valley, Iowa

Getting an SBA Loan in Iowa