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November 15, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Woodbine, Business Loans > Farmers Trust & Savings Bank Woodbine Business Loans > General Automotive Repair Loan | ||||
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SBA Lender Woodbine, Iowa
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Woodbine, Iowa Bank Gives SBA Loan to General Automotive Repair CompanyThinking about meeting with a Woodbine, Iowa bank about an SBA loan? Here's one Iowa business loan, issued by a Woodbine bank, that was approved by the SBA. Applying for an SBA loan with Farmers Trust & Savings Bank worked out well for our friends at one local business in Woodbine, Iowa. They received an SBA loan for $149,400. Sweet! SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender FARMERS TRUST & SAVINGS 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 SBA loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 2/9/2006 Loan Approval Gross Amount $149,400 Loan Approval from the SBA Of the total $149,400 loan amount, the SBA guaranteed $126,990. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Farmers Trust & Savings Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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:
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