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November 15, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Johnston, Business Loans > Polk County Bank Johnston Business Loans > Pet Care Services Loan | ||||
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Small Business Banks That Lend to Iowa Entrepreneurs
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Polk County Bank Gives SBA Loan to Pet Care Services CompanyBusiness loans in Iowa are hard to find these days. We take a look at one Iowa business loan, provided by an Iowa bank, that was approved by the SBA. Getting a small business loan in Urbandale, Iowa was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Polk County Bank. Here are the details on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: PET CARE SERVICES SBA Loan Lender POLK COUNTY BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812910 - Pet Care Services Loan Approval Date 10/22/2003 Loan Approval Gross Amount $56,000 Loan Approval from the SBA Of the total $56,000 loan amount, the SBA guaranteed $47,600. 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 10 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. While you may be able to find other ways to get money to start a business, 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: Best Johnston, Iowa Banks for Small Business
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