Wapello, Iowa Bank Gives SBA Loan to Motor Vehicle Brake System Manufacturing Company

Get SBA loans from a Wapello, Iowa bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Iowa State Bank is a Wapello, Iowa small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Iowa company.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE BRAKE SYSTEM MANUFACTURING
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.

NAICS Code

336340 - Motor Vehicle Brake System Manufacturing

Loan Approval Date

9/2/2004

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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

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

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $120,000 loan. Remember, things become real when you believe you can achieve them!

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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