Northwest Federal Savings Bank SBA Loan to Arrangement Of Transportation Of Freight And Cargo Company

An SBA loan from Northwest Federal Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Spencer, Iowa business owner got a $85,500 loan.

Getting a small business loan in Spencer, Iowa was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Northwest Federal Savings Bank, operating out of Spencer, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: ARRANGEMENT OF TRANSPORTATION OF FREIGHT AND CARGO
SPENCER, IA 51301

SBA Loan Lender

NORTHWEST FEDERAL SAVINGS BANK
101 W 5TH ST
SPENCER, IA 51301

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.

SIC Code

4731 - Arrangement of Transportation of Freight and Cargo

Loan Approval Date

7/25/2000

Loan Approval Gross Amount

$85,500

Loan Approval from the SBA

Of the total $85,500 loan amount, the SBA guaranteed $68,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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