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November 22, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Holstein, Business Loans > American National Bank Holstein Business Loans > Funeral Homes And Funeral Services Loan | ||||
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American National Bank Business Loans Sac City, Iowa
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SBA Loan from American National Bank Helps Funeral Homes And Funeral Services CompanyAmerican National Bank has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them. Getting a small business loan in Sac City, Iowa was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from American National Bank, operating out of Holstein, Iowa. Here are the details on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: FUNERAL HOMES AND FUNERAL SERVICES SBA Loan Lender AMERICAN NATIONAL BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812210 - Funeral Homes and Funeral Services Loan Approval Date 8/19/2005 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks for Small Business in Holstein, Iowa
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