Fort Madison, Iowa Entrepreneur Gets a Business Loan

IowaBank loans are available to Iowa firms through the SBA. In this case, an Iowa bank provides the loan.

Getting a small business loan in Fort Madison, Iowa was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from State Central Bank. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT RENTAL AND LEASING
FORT MADISON, IA 52627

SBA Loan Lender

STATE CENTRAL BANK
619 NINTH ST
FORT MADISON, IA 52627

This lender issued this SBA small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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

532490 - Commercial and Industrial Machinery and Equipment Rental and Leasing

Loan Approval Date

10/26/2005

Loan Approval Gross Amount

$21,330

Loan Approval from the SBA

Of the total $21,330 loan amount, the SBA guaranteed $18,131.

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. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like State Central Bank and they will explain how you can get an SBA loan for your company.

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:

Business Credit Evaluation

SBA 7A Banks in Fort Madison, Iowa

Where to Get an SBA Loan Iowa