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May 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Hull, Business Loans > Iowa State Bank Hull Business Loans > Hotels And Motels Loan | ||||
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Iowa Small Business Loans from Iowa State Bank
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Sheldon, Iowa Business Gets SBA-Guaranteed Funding from Iowa State BankIowa State 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 Sheldon, Iowa was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Iowa State Bank, operating out of Hull, Iowa. Here are the details on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender IOWA STATE BANK This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 12/29/2003 Loan Approval Gross Amount $101,300 Loan Approval from the SBA Of the total $101,300 loan amount, the SBA guaranteed $86,105. More Information on This SBA Loan The borrower borrowed this money for a new 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 SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 $101,300 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:
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