Community St. Bank Gives SBA Loan to Schools And Instruction Company

Business loans in Iowa are are few and far betweeen these days. We take a look at one Iowa business loan, provided by an Iowa bank, that was approved by the SBA.

You can learn something about getting a small business loan in Urbandale, Iowa by studying this loan to a local business, made back in 2004. Banks like Community St. Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: SCHOOLS AND INSTRUCTION
URBANDALE, IA 50323

SBA Loan Lender

COMMUNITY ST. BANK
817 N ANKENY BLVD
ANKENY, IA 50023

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611699 - Schools and Instruction

Loan Approval Date

8/3/2004

Loan Approval Gross Amount

$22,500

Loan Approval from the SBA

Of the total $22,500 loan amount, the SBA guaranteed $19,125.

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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

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