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November 15, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Waverly, Business Loans > First National Bank Waverly Business Loans > Car Washes Loan | ||||
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Waverly Bank Loan
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Waverly, Iowa Lender Lends Money to Car Washes CompanyWant to talk with a Waverly, Iowa bank about a small business loan? Here's one Iowa business loan, issued by a Waverly bank, that was approved by the SBA. Applying for an SBA loan with First National Bank worked out well for our friends at one local business in Waverly, Iowa. The business was able to get an SBA loan for $375,000. Great job! SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender FIRST NATIONAL BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811192 - Car Washes Loan Approval Date 6/16/2004 Loan Approval Gross Amount $375,000 Loan Approval from the SBA Of the total $375,000 loan amount, the SBA guaranteed $281,250. 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 5 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. This SBA loan was for $375,000. How would you spend $375,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Determining Proper Capital Structure for a Business Good Banks for Small Business in Waverly, Iowa Browse All Business Loan Sources for Iowa
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