SBA Loan from Great Western Bank Helps Local Trucking Without Storage Company

An SBA loan from Great Western Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hamburg, Iowa business owner got a $33,800 loan.

This business knew how to go about getting a business bank loan. Based in Hamburg, Iowa, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Great Western Bank, based in Hamburg, Iowa.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE
HAMBURG, IA 51640

SBA Loan Lender

GREAT WESTERN BANK
1020 MAIN ST
HAMBURG, IA 51640

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4212 - Local Trucking Without Storage

Loan Approval Date

3/8/2000

Loan Approval Gross Amount

$33,800

Loan Approval from the SBA

Of the total $33,800 loan amount, the SBA guaranteed $27,040.

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. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Great Western Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Find Start-Up Capital

SBA 7A Lenders in Hamburg, Iowa

Getting an SBA Loan in Iowa