Business Loan from Farmers Savings Bank & Trust-Tra Given to Advertising Agencies Company

An SBA loan from Farmers Savings Bank & Trust-Tra typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Vinton, Iowa business owner got a $500,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Vinton, Iowa, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Farmers Savings Bank & Trust-Tra, based in Traer, Iowa.

SBA Loan Borrower

COMPANY TYPE: ADVERTISING AGENCIES
VINTON, IA 52349

SBA Loan Lender

FARMERS SAVINGS BANK & TRUST-TRA
611 2ND ST
TRAER, IA 50675

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541810 - Advertising Agencies

Loan Approval Date

12/17/2001

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 10 employees. The SBA loan application for the borrower did not indicate that the business promised 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 typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Farmers Savings Bank & Trust-Tra 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:

Advice on Getting a Small Business Loan

SBA 7A Banks for Traer, Iowa Loans

Getting an SBA Loan in Iowa