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May 9, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Shell Rock, Business Loans > Security State Bank Shell Rock Business Loans > Full-Service Restaurants Loan | ||||
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How Do We Get a Business Loan in Shell Rock, Iowa?
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Full-Service Restaurants Small Business LoansLooking for small business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $56,600 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 Shell Rock, Iowa was able to borrow $56,600 from Security State Bank. The SBA made the loan possible by guaranteeing $48,110 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender SECURITY STATE BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 4/9/2003 Loan Approval Gross Amount $56,600 Loan Approval from the SBA Of the total $56,600 loan amount, the SBA guaranteed $48,110. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Security State Bank and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding From a Venture Capitalist SBA Approved Banks in Shell Rock, Iowa Browse All Business Loan Sources for Iowa
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