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May 17, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Earling, Business Loans > Farmers Trust & Savings Bank Earling Business Loans > Automotive Body, Paint, And Interior Repair And Maintenance Loan | ||||
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Farmers Trust & Savings Bank
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Harlan, Iowa Business Gets SBA-Guaranteed Funding from Farmers Trust & Savings BankFarmers Trust & Savings Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Iowa entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Harlan, Iowa was able to borrow $69,200 from Farmers Trust & Savings Bank. The SBA made the loan possible by guaranteeing $58,820 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE SBA Loan Lender FARMERS TRUST & SAVINGS BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 10/25/2005 Loan Approval Gross Amount $69,200 Loan Approval from the SBA Of the total $69,200 loan amount, the SBA guaranteed $58,820. 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 2 employees. The loan application did not indicate that the business promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $69,200 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Best Banks for Small Business in Earling, Iowa
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