Iowa Bank Loan Issued to Concrete Work Company

Want an Iowa bank loan? This Iowa entrepreneur got a bank loan, provided by an Iowa bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Urbandale, Iowa by studying this loan to a local company, made back in 2001. Banks like Polk County Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: CONCRETE WORK
URBANDALE, IA 50322

SBA Loan Lender

POLK COUNTY BANK
5601 MERLE HAY RD
JOHNSTON, IA 50131

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1771 - Concrete Work

NAICS Code

235710 - Concrete Contractors

Loan Approval Date

2/22/2001

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 15 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Polk County Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Getting a Small Business Loan

Banks in Johnston, Iowa

Find an SBA Lender in Iowa