Alta, Iowa Bank Lends Money to Offices And Clinics Of Chiropractors Company in Storm Lake, Iowa

Get to know Alta, Iowa banks that specialize in small business loans and know how to work with entrepreneurs. Heritage Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Storm Lake, Iowa starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Heritage Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS
STORM LAKE, IA 50588

SBA Loan Lender

HERITAGE BANK
202 MAIN ST
ALTA, IA 51002

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8041 - Offices and Clinics of Chiropractors

NAICS Code

621310 - Chiropractors

Loan Approval Date

4/11/2000

Loan Approval Gross Amount

$54,600

Loan Approval from the SBA

Of the total $54,600 loan amount, the SBA guaranteed $43,680.

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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Heritage Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Heritage 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.

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