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May 12, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Hospers, Business Loans > American State Bank Hospers Business Loans > Full-Service Restaurants Loan | ||||
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Best Banks for Hospers, Iowa Entrepreneurs
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Small Business Loans for Full-Service RestaurantsLooking for small business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $72,500 full-service restaurants loan was issued by an Iowa bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hospers, Iowa was able to borrow $72,500 from American State Bank. The SBA made the loan possible by guaranteeing $61,625 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender AMERICAN STATE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/5/2006 Loan Approval Gross Amount $72,500 Loan Approval from the SBA Of the total $72,500 loan amount, the SBA guaranteed $61,625. 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 5 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Raising VC Money for Social Networking Companies Best Banks for Small Business in Hospers, Iowa
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