Business Loan from Iowa State Bank Given to Liquor Stores Company

An SBA loan from Iowa State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Wapello, Iowa business owner got a $59,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wapello, Iowa was able to borrow $59,000 from Iowa State Bank. The SBA made the loan possible by guaranteeing $50,150 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: LIQUOR STORES
WAPELLO, IA 52653

SBA Loan Lender

IOWA STATE BANK
409 HWY 61 SOUTH
WAPELLO, IA 52653

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5921 - Liquor Stores

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

4/3/2001

Loan Approval Gross Amount

$59,000

Loan Approval from the SBA

Of the total $59,000 loan amount, the SBA guaranteed $50,150.

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 3 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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:

Small Business Credit Cards

SBA 7A Banks for Wapello, Iowa Loans

Where to Get an SBA Loan Iowa