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May 17, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Exira, Business Loans > Exchange State Bank Exira Business Loans > Drinking Places Loan | ||||
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Banks for Exira Businesses
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Exira, Iowa Entrepreneur Gets a Business LoanLooking to get an Iowa SBA loan? This Iowa entrepreneur got an SBA loan, provided by an Iowa bank that works with the SBA to help small business owners. This business, based in Exira, Iowa, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Exchange State Bank. We've got the inside scoop on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender EXCHANGE STATE BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722410 - Drinking Places Loan Approval Date 8/24/2004 Loan Approval Gross Amount $54,500 Loan Approval from the SBA Of the total $54,500 loan amount, the SBA guaranteed $46,325. 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 only one employee. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Obtaining Funding - How to Borrow Money Small Bank Loans in Exira, Iowa
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