SBA Loan from Glenwood State Bank Helps Heavy Construction Company

Glenwood State Bank has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Glenwood, Iowa was able to borrow $45,500 from Glenwood State Bank. The SBA made the loan possible by guaranteeing $38,675 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: HEAVY CONSTRUCTION
GLENWOOD, IA 51534

SBA Loan Lender

GLENWOOD STATE BANK
32 N WALNUT
GLENWOOD, IA 51534

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

234990 - Heavy Construction

Loan Approval Date

1/30/2002

Loan Approval Gross Amount

$45,500

Loan Approval from the SBA

Of the total $45,500 loan amount, the SBA guaranteed $38,675.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your 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 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.

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