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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 > Shoe Stores Loan | ||||
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How Hard Is It to Get a Small Business Loan in Cherokee, Iowa?
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Raising Money for Shoe StoresWith these business loans for shoe stores, the SBA guarantees the lender that the loan will be repaid. This shoe stores loan for $56,000 was given to an Iowa entrepreneur in 2000. Getting a small business loan in Cherokee, Iowa was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Cherokee State Bank, operating out of Cherokee, Iowa. Here are the details on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: SHOE STORES SBA Loan Lender CHEROKEE STATE BANK This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5661 - Shoe Stores NAICS Code 448210 - Shoe Stores Loan Approval Date 7/5/2000 Loan Approval Gross Amount $56,000 Loan Approval from the SBA Of the total $56,000 loan amount, the SBA guaranteed $44,800. 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 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 $56,000 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: SBA Approved Banks in Cherokee, Iowa
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