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May 18, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Cherokee, Business Loans > Cherokee State Bank Cherokee Business Loans > Building Material Dealers Loan | ||||
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Iowa SBA 7A Lenders
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Entrepreneur Works With Cherokee, Iowa Bank to Get an SBA LoanA Cherokee, Iowa small business loan can be yours. Learn how a business got a $279,000 business loan from this Iowa bank. This loan to a local firm is a good example of an SBA loan. Cherokee State Bank made the loan and the SBA guaranteed a portion of the loan. Many other Iowa entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: BUILDING MATERIAL DEALERS SBA Loan Lender CHEROKEE STATE BANK This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 444190 - Building Material Dealers Loan Approval Date 3/29/2005 Loan Approval Gross Amount $279,000 Loan Approval from the SBA Of the total $279,000 loan amount, the SBA guaranteed $209,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. We've showcased information on this loan to let you know that businesses like yours 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: Determining Proper Capital Structure for a Business Best Banks for Small Business in Cherokee, Iowa
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