Entrepreneur Works With Sigourney, Iowa Bank to Get an SBA Loan
Find Sigourney, Iowa banks that specialize in SBA loans and know how to work with entrepreneurs. Keokuk County State Bank is one such bank, as evidenced by this SBA loan to one business.
Finding a small business loan in Sigourney, Iowa starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Keokuk County State Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SIGOURNEY, IA 52591
SBA Loan Lender
KEOKUK COUNTY STATE BANK
201 S JEFFERSON ST
SIGOURNEY, IA 52591
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
8/27/2002
Loan Approval Gross Amount
$135,000
Loan Approval from the SBA
Of the total $135,000 loan amount, the SBA guaranteed $114,750.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 12 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Keokuk County State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Keokuk County State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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 - How to Borrow Money
Find an SBA Lender in Sigourney, Iowa
SBA Lenders in Iowa