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May 16, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Ottumwa, Business Loans > Hedrick Savings Bank Ottumwa Business Loans > Diagnostic Imaging Centers Loan | ||||
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Hedrick Savings Bank
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Ottumwa, Iowa Business Gets SBA-Guaranteed Funding from Hedrick Savings BankHedrick 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. Getting a small business loan in Ottumwa, Iowa was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Hedrick Savings Bank, operating out of Ottumwa, Iowa. Here are the details on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: DIAGNOSTIC IMAGING CENTERS SBA Loan Lender HEDRICK SAVINGS BANK This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621512 - Diagnostic Imaging Centers Loan Approval Date 3/22/2007 Loan Approval Gross Amount $185,000 Loan Approval from the SBA Of the total $185,000 loan amount, the SBA guaranteed $138,750. 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 only one employee. The loan application indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Hedrick Savings Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Where to Get an SBA Loan in Ottumwa, Iowa
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