Shenandoah, Iowa Business Gets SBA-Guaranteed Funding from First Community Bank

First Community Bank has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Shenandoah, Iowa, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was First Community Bank, based in Sidney, Iowa.

SBA Loan Borrower

COMPANY TYPE: TRUCK TRAILERS
SHENANDOAH, IA 51601

SBA Loan Lender

FIRST COMMUNITY BANK
716 ILLINOIS ST
SIDNEY, IA 51652

This lender issued this loan for a small business under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3715 - Truck Trailers

NAICS Code

336212 - Truck Trailer Manufacturing

Loan Approval Date

2/1/2000

Loan Approval Gross Amount

$215,000

Loan Approval from the SBA

Of the total $215,000 loan amount, the SBA guaranteed $161,250.

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 23 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Community 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:

Obtaining Funding - Getting Venture Capital

SBA 7A Banks for Sidney, Iowa Loans

Iowa SBA 7A Lenders