Get an SBA Loan for Building Material Dealers

With these small business loans for building material dealers, the SBA guarantees the lender that the loan will be repaid. This building material dealers loan for $110,000 was given to an Iowa entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lenox, Iowa was able to borrow $110,000 from Okey-Vernon 1st National. The SBA made the loan possible by guaranteeing $93,500 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
LENOX, IA 50851

SBA Loan Lender

OKEY-VERNON 1ST NATIONAL
701 DAVIS AVE
CORNING, IA 50841

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

10/22/2003

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the company 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?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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.

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Who Lends Money to Small Businesses in Corning, Iowa

Iowa SBA Banks