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December 22, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Sioux City, Business Loans > Vantus Bank Sioux City Business Loans > Used Merchandise Stores Loan | ||||
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Iowa Small Business SBA Loans
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Vantus Bank Gives SBA Loan to Used Merchandise Stores CompanyBusiness loans in Iowa are are few and far betweeen these days. We take a look at one Iowa business loan, provided by an Iowa bank, that was approved by the SBA. You can learn something about getting a small business loan in Sioux City, Iowa by studying this loan to a local business, made back in 2005. Banks like Vantus Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: USED MERCHANDISE STORES SBA Loan Lender VANTUS BANK 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 453310 - Used Merchandise Stores Loan Approval Date 3/23/2005 Loan Approval Gross Amount $89,700 Loan Approval from the SBA Of the total $89,700 loan amount, the SBA guaranteed $76,245. 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 4 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This SBA loan was for $89,700. How would you spend $89,700 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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:
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