Growing Company Gets an Iowa Bank Loan

IowaBank loans are available to Iowa firms through the SBA. In this case, an Iowa bank provides the loan.

This business, based in Waukon, 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 Farmers & Merchants Savings Bk. We've got the inside scoop on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
WAUKON, IA 52172

SBA Loan Lender

FARMERS & MERCHANTS SAVINGS BK
201 W MAIN ST
WAUKON, IA 52172

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621210 - Dentists

Loan Approval Date

7/23/2001

Loan Approval Gross Amount

$355,500

Loan Approval from the SBA

Of the total $355,500 loan amount, the SBA guaranteed $266,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

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

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Farmers & Merchants Savings Bk are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Startup Funding Tip

SBA Approved Banks in Waukon, Iowa

Where to Get an SBA Loan Iowa