Shenandoah, Iowa Bank Lends Money to Used Car Dealers Company in Shenandoah, Iowa

Thinking about meeting with a Shenandoah, Iowa bank about a small business loan? Here's one Iowa business loan, issued by a Shenandoah bank, that was approved by the SBA.

Applying for an SBA loan with Bank Iowa worked out well for our friends at one local business in Shenandoah, Iowa. They got an SBA loan for $144,000. Great job!

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
SHENANDOAH, IA 51601

SBA Loan Lender

BANK IOWA
701 W SHERIDAN
SHENANDOAH, IA 51601

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

6/27/2001

Loan Approval Gross Amount

$144,000

Loan Approval from the SBA

Of the total $144,000 loan amount, the SBA guaranteed $122,400.

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 only one employee. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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