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May 17, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Storm Lake, Business Loans > Central Bank Storm Lake Business Loans > Eating Places Loan | ||||
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Central Bank Storm Lake
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Business Loan from Central Bank Given to Eating Places CompanyAn SBA loan from Central Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Storm Lake, Iowa business owner got a $36,400 loan. Getting a small business loan in Storm Lake, Iowa was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Central Bank, operating out of Storm Lake, Iowa. Here are the details on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender CENTRAL BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 4/13/2000 Loan Approval Gross Amount $36,400 Loan Approval from the SBA Of the total $36,400 loan amount, the SBA guaranteed $29,120. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money 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 Central 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: Realistic Debt Financing Options SBA 7A Banks in Storm Lake, Iowa
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