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May 18, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Boone, Business Loans > Bank Of The West Boone Business Loans > Water, Sewer, And Utility Lines Loan | ||||
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Bank Of The West Small Business Loans
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Bank Of The West SBA Loan to Water, Sewer, And Utility Lines CompanyBank Of The West and the SBA work together to get business loans for growing small businesses. Here's an example of how an Iowa entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in Garner, Iowa, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Bank Of The West, based in Boone, Iowa. SBA Loan Borrower COMPANY TYPE: WATER, SEWER, AND UTILITY LINES SBA Loan Lender BANK OF THE WEST This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1623 - Water, Sewer, and Utility Lines Loan Approval Date 1/31/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of The West are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: Realistic Debt Financing Options
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