Small Business Loans for Building Material Dealers

With these small business loans for building material dealers, the SBA guarantees the lender that the loan will be repaid. This building material dealers loan for $44,000 was given to an Iowa entrepreneur in 2001.

This company knew how to go about getting a business bank loan. Based in Waterloo, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Bankiowa, based in Cedar Falls, Iowa.

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
WATERLOO, IA 50702

SBA Loan Lender

BANKIOWA
6804 UNIVERSITY AVE
CEDAR FALLS, IA 50613

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

2/5/2001

Loan Approval Gross Amount

$44,000

Loan Approval from the SBA

Of the total $44,000 loan amount, the SBA guaranteed $37,400.

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 only one employee. The SBA loan documents 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!

Every year, the SBA guarantees over $10 billion for loans just like this one.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bankiowa and they will explain how you can get an SBA loan for your company.

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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