Sheldon, Iowa Entrepreneur Gets a Bank Loan

Would an Iowa bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Iowa bank, which offers SBA loans to Iowa entrepreneurs.

You can learn something about getting a small business loan in Sheldon, Iowa by studying this loan to a local company, made back in 2006. Banks like Northwestern Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: SOLID WASTE COLLECTION
SHELDON, IA 51201

SBA Loan Lender

NORTHWESTERN BANK
934 3RD AVE
SHELDON, IA 51201

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562111 - Solid Waste Collection

Loan Approval Date

10/27/2006

Loan Approval Gross Amount

$226,000

Loan Approval from the SBA

Of the total $226,000 loan amount, the SBA guaranteed $169,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Northwestern Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Advice on Getting a Small Business Loan

SBA Banks in Sheldon, Iowa

Where to Get an SBA Loan Iowa