Urbandale, Iowa Business Gets SBA-Guaranteed Funding from Peoples Trust & Savings Bank

Peoples Trust & Savings Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Iowa entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Urbandale, Iowa, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Peoples Trust & Savings Bank, based in Grand Junction, Iowa.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
URBANDALE, IA 50322

SBA Loan Lender

PEOPLES TRUST & SAVINGS BANK
205 MAIN ST
GRAND JUNCTION, IA 50107

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

3/23/2004

Loan Approval Gross Amount

$620,400

Loan Approval from the SBA

Of the total $620,400 loan amount, the SBA guaranteed $465,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Alternative Financing

Best Banks in Grand Junction, Iowa

Getting an SBA Loan in Iowa