Bank Loans for Certified Public Accountants

With these bank loans for certified public accountants, the SBA guarantees the lender that the loan will be repaid. This certified public accountants loan for $60,000 was given to an Iowa entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in West Des Moines, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was City State Bank, based in Grimes, Iowa.

SBA Loan Borrower

COMPANY TYPE: CERTIFIED PUBLIC ACCOUNTANTS
WEST DES MOINES, IA 50265

SBA Loan Lender

CITY STATE BANK
100 N JACOB
GRIMES, IA 50111

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541211 - Certified Public Accountants

Loan Approval Date

10/17/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business promised 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?

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from City State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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