Iowa Business Loan Issued to Business Consulting Services Company

Business 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.

Getting a small business loan in Storm Lake, Iowa was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Central Bank. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS CONSULTING SERVICES
STORM LAKE, IA 50588

SBA Loan Lender

CENTRAL BANK
600 LAKE AVE
STORM LAKE, IA 50588

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8748 - Business Consulting Services

Loan Approval Date

3/21/2000

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $64,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Central Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Central Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Raising Venture Capital

Small Business Banks in Storm Lake, Iowa

SBA Participating Banks in Iowa