Spencer, Iowa Lender Lends Money to Golf Courses And Country Clubs Company

Thinking about meeting with a Spencer, Iowa bank about an SBA loan? Here's one Iowa business loan, issued by a Spencer bank, that was approved by the SBA.

Applying for an SBA loan with Northwest Federal Savings Bank worked out well for our friends at one local business in Spirit Lake, Iowa. They got an SBA loan for $207,500. Way to go!

SBA Loan Borrower

COMPANY TYPE: GOLF COURSES AND COUNTRY CLUBS
SPIRIT LAKE, IA 51360

SBA Loan Lender

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

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713910 - Golf Courses and Country Clubs

Loan Approval Date

11/23/2004

Loan Approval Gross Amount

$207,500

Loan Approval from the SBA

Of the total $207,500 loan amount, the SBA guaranteed $155,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 7 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Northwest Federal 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.

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