SBA Loan from Exchange State Bank Helps Computer Facilities Management Services Company

Exchange State Bank has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them.

Getting a small business loan in Urbandale, Iowa was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Exchange State Bank, operating out of Winterset, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER FACILITIES MANAGEMENT SERVICES
URBANDALE, IA 50228

SBA Loan Lender

EXCHANGE STATE BANK
113 S JOHN WAYNE DR
WINTERSET, IA 50273

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541513 - Computer Facilities Management Services

Loan Approval Date

5/15/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 15 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Determining Proper Capital Structure for a Business

SBA Approved Banks in Winterset, Iowa

SBA Participating Banks in Iowa