Sioux City, Iowa Business Gets SBA-Guaranteed Funding from Vantus Bank

An SBA loan from Vantus Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sioux City, Iowa business owner got a $417,000 loan.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Vantus Bank, out of Sioux City, Iowa. The loan was granted and they received $417,000 to help grow their Sioux City, Iowa business.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
SIOUX CITY, IA 51106

SBA Loan Lender

VANTUS BANK
329 PIERCE ST
SIOUX CITY, IA 51101

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

1/19/2007

Loan Approval Gross Amount

$417,000

Loan Approval from the SBA

Of the total $417,000 loan amount, the SBA guaranteed $312,750.

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 15 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $417,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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