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

An SBA loan from Liberty National 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 $75,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Sioux City, Iowa, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Liberty National Bank, based in Sioux City, Iowa.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL REMODELERS
SIOUX CITY, IA 51106

SBA Loan Lender

LIBERTY NATIONAL BANK
4425 SINGING HILLS BLVD
SIOUX CITY, IA 51106

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

236118 - Residential Remodelers

Loan Approval Date

12/29/2003

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

Related Links:

Getting a Small Business Loan

Best Banks in Sioux City, Iowa

Getting a Business Loan in Iowa