Cedar Rapids Bank & Trust SBA Loan to Metal Coating, Engraving And Allied Services Company

Cedar Rapids Bank & Trust has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in West Branch, Iowa was able to borrow $123,800 from Cedar Rapids Bank & Trust. The SBA made the loan possible by guaranteeing $105,230 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: METAL COATING, ENGRAVING AND ALLIED SERVICES
WEST BRANCH, IA 52358

SBA Loan Lender

CEDAR RAPIDS BANK & TRUST
500 1ST AVE NE, STE 100
CEDAR RAPIDS, IA 52401

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

332812 - Metal Coating, Engraving and Allied Services

Loan Approval Date

5/17/2004

Loan Approval Gross Amount

$123,800

Loan Approval from the SBA

Of the total $123,800 loan amount, the SBA guaranteed $105,230.

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 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in West Branch or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Borrowing Money from Friends and Family

Banks in Cedar Rapids, Iowa

Iowa SBA 7A Banks