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November 22, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > West Des Moines, Business Loans > Freedom Financial Bank West Des Moines Business Loans > Eating Places Loan | ||||
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SBA Lender West Des Moines Iowa
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Freedom Financial Bank Gives Small Business Loan to Eating Places CompanyLooking to get an Iowa small business loan? This Iowa entrepreneur got a small business loan, provided by an Iowa bank that works with the SBA to help small business owners. By giving the right information to Freedom Financial Bank, this West Des Moines, Iowa business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FREEDOM FINANCIAL BANK 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. SIC Code 5812 - Eating Places Loan Approval Date 2/7/2000 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $48,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 34 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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 West Des Moines, Iowa
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