Le Mars, Iowa Bank Gives SBA Loan to Animal Aquaculture Company

Find Le Mars, Iowa banks that specialize in business loans and know how to work with entrepreneurs. First National Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Sioux City, Iowa starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from First National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: ANIMAL AQUACULTURE
SIOUX CITY, IA 51106

SBA Loan Lender

FIRST NATIONAL BANK
111 CENTRAL AVE NW
LE MARS, IA 51031

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0273 - Animal Aquaculture

Loan Approval Date

6/12/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Equity Financing

Best Le Mars, Iowa Banks for Small Business

SBA Iowa Lenders