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May 13, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Marion, Business Loans > Farmers State Bank Marion Business Loans > Optical Goods Stores Loan | ||||
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I Need a Business Loan in Cedar Rapids, Iowa
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Optical Goods Stores Commercial LoansLooking for commercial loans for optical goods stores? The SBA may be the answer. This $175,000 optical goods stores loan was issued by an Iowa bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cedar Rapids, Iowa was able to borrow $175,000 from Farmers State Bank. The SBA made the loan possible by guaranteeing $131,250 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: OPTICAL GOODS STORES SBA Loan Lender FARMERS STATE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 446130 - Optical Goods Stores Loan Approval Date 12/31/2007 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. 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 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Farmers State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Farmers State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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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