Business Loan from Bank Midwest Minnesota Iowa Na Given to Commercial Printing Company

An SBA loan from Bank Midwest Minnesota Iowa Na typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Spencer, Iowa business owner got a $650,000 loan.

Getting a small business loan in Spencer, Iowa was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Bank Midwest Minnesota Iowa Na, operating out of Okoboji, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL PRINTING
SPENCER, IA 51301

SBA Loan Lender

BANK MIDWEST MINNESOTA IOWA NA
1102 SANBORN AVE
OKOBOJI, IA 51355

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

323119 - Commercial Printing

Loan Approval Date

6/19/2007

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

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 30 employees. The SBA loan documents indicated that the loan would help retain 30 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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:

Obtaining Funding - How to Borrow Money

Small Bank Loans in Okoboji, Iowa

SBA Lenders in Iowa