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May 13, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Red Oak, Business Loans > Bank Iowa Red Oak Business Loans > Automotive Body, Paint, And Interior Repair And Maintenance Loan | ||||
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Banks in Iowa
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Getting an SBA Loan for Automotive Body, Paint, and Interior Repair and MaintenanceLooking for SBA loans for automotive body, paint, and interior repair and maintenance? The SBA may be the answer. This $100,000 automotive body, paint, and interior repair and maintenance loan was issued by an Iowa bank. This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Bank Iowa, out of Red Oak, Iowa. The loan was granted and they received $100,000 to help grow their Shenandoah, Iowa business. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE SBA Loan Lender BANK IOWA This lender issued this particular commercial 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 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 9/19/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 3 employees. The SBA loan documents did not indicate that the small business planned 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? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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. Related Links: Accountant's Role in Securing Financing SBA 7A Lenders in Red Oak, Iowa
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