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December 22, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > West Des Moines, Business Loans > Freedom Financial Bank West Des Moines Business Loans > Food Supplement Stores Loan | ||||
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West Des Moines Lenders
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West Des Moines, Iowa Bank Lends Money to Food Supplement Stores Company in Urbandale, IowaGet to know West Des Moines, Iowa banks that specialize in SBA loans and know how to work with entrepreneurs. Freedom Financial Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Urbandale, Iowa starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Freedom Financial Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: FOOD SUPPLEMENT STORES SBA Loan Lender FREEDOM FINANCIAL BANK 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 446191 - Food Supplement Stores Loan Approval Date 4/29/2004 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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Freedom Financial 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. Related Links: Who Lends Money to Small Businesses in West Des Moines, Iowa
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