Spencer, Iowa Business Gets SBA-Guaranteed Funding from Farmers Trust And Savings Bank

Farmers Trust And Savings Bank has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Spencer, Iowa, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Farmers Trust And Savings Bank, based in Spencer, Iowa.

SBA Loan Borrower

COMPANY TYPE: OFFICE SUPPLIES AND STATIONERY
SPENCER, IA 51301

SBA Loan Lender

FARMERS TRUST AND SAVINGS BANK
125 W 4TH ST
SPENCER, IA 51301

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453210 - Office Supplies and Stationery

Loan Approval Date

6/30/2003

Loan Approval Gross Amount

$58,900

Loan Approval from the SBA

Of the total $58,900 loan amount, the SBA guaranteed $50,065.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Farmers Trust And Savings Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

The Friends and Family Network

SBA Banks in Spencer, Iowa

SBA Iowa Lenders