Iowa SBA Loan Issued to Florists Company

Would an Iowa small business loan help your small business to grow and prosper? If so, you may want to talk with this Iowa bank, which offers SBA loans to Iowa entrepreneurs.

Getting a small business loan in Vinton, Iowa was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Farmers Savings Bank & Trust-Vin. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: FLORISTS
VINTON, IA 52349

SBA Loan Lender

FARMERS SAVINGS BANK & TRUST-VIN
401 'B' AVE
VINTON, IA 52349

This was a Low Documentation SBA loan. The SBA launched 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453110 - Florists

Loan Approval Date

12/30/2002

Loan Approval Gross Amount

$124,000

Loan Approval from the SBA

Of the total $124,000 loan amount, the SBA guaranteed $105,400.

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 application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

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-Vin 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:

Business Incubators

Small Bank Loans in Vinton, Iowa

SBA Iowa Banks