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May 1, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > New Car Dealers Loan | ||||
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Eldridge, Iowa Bank Loan
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Iowa SBA Loan Issued to New Car Dealers CompanySmall business loans in Iowa are are few and far betweeen these days. We take a look at one Iowa small business loan, provided by a California bank, that was approved by the SBA. Getting a small business loan in Eldridge, Iowa was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank. Here are the details on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: NEW CAR DEALERS SBA Loan Lender WELLS FARGO BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 441110 - New Car Dealers Loan Approval Date 8/23/2002 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Banking Deregulation's Effects on Entrepreneurship Find an SBA Lender in San Jose, California Where to Get an SBA Loan California
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