 |
 |
May 18, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Iowa Business Loan Sources > Holstein, Business Loans > American National Bank Holstein Business Loans > Florists Loan | ||||
 |
||||
Holstein, Iowa Bank for SBA Loans
|
||||
 |
Holstein, Iowa Bank Lends Money to Florists Company in Sac City, IowaGet to know Holstein, Iowa banks that specialize in SBA loans and know how to work with entrepreneurs. American National Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Sac City, Iowa starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from American National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender AMERICAN NATIONAL BANK 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. NAICS Code 453110 - Florists Loan Approval Date 12/9/2004 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $76,500. 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 3 employees. The SBA loan documents did not indicate that the company promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Advice on Getting a Small Business Loan Best Banks for Small Business in Holstein, Iowa
|
|
||
|
||||
|
|
||||