Business Loan from Northwest Bank & Trust Company Given to Drinking Places Company

Northwest Bank & Trust Company and the SBA work together to get business loans for growing small businesses. Here's an example of how an Iowa entrepreneur was able to get a loan to take a small business to the next level.

This small firm knew how to go about getting a business bank loan. Based in Wilton, Iowa, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Northwest Bank & Trust Company, based in Davenport, Iowa.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
WILTON, IA 52778

SBA Loan Lender

NORTHWEST BANK & TRUST COMPANY
100 E KIMBERLY
DAVENPORT, IA 52806

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722410 - Drinking Places

Loan Approval Date

7/2/2007

Loan Approval Gross Amount

$104,000

Loan Approval from the SBA

Of the total $104,000 loan amount, the SBA guaranteed $52,000.

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 4 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

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

If you need business start up money in Wilton IA, you ought to talk with a local Wilton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wilton businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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