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November 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Hudson, Business Loans > Midwestone Bank Hudson Business Loans > Household Laundry Equipment Manufacturing Loan | ||||
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Small Business Banks for Business Owners in Iowa
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Midwestone Bank Gives Small Business Loan to Household Laundry Equipment Manufacturing CompanySearching for an Iowa business loan? This Iowa entrepreneur got a business loan, provided by an Iowa bank that works with the SBA to help small business owners. This small business, based in Waterloo, Iowa, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Midwestone Bank. We've got the inside scoop on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: HOUSEHOLD LAUNDRY EQUIPMENT MANUFACTURING SBA Loan Lender MIDWESTONE BANK 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 335224 - Household Laundry Equipment Manufacturing Loan Approval Date 12/6/2004 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $68,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: SBA Participating Banks in Iowa
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