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May 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Marion, Business Loans > Farmers State Bank Marion Business Loans > Fitness And Recreational Sports Centers Loan | ||||
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Iowa Small Business Loans from Farmers State Bank
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Cedar Rapids, Iowa Business Gets SBA-Guaranteed Funding from Farmers State BankFarmers State Bank 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. Getting a small business loan in Cedar Rapids, Iowa was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Farmers State Bank, operating out of Marion, Iowa. Here are the details on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS SBA Loan Lender FARMERS STATE 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. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 12/6/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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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