Denison, Iowa Bank Lends Money to Special Trade Contractors Company in Ute, Iowa

Thinking about meeting with a Denison, Iowa bank about an SBA loan? Here's one Iowa business loan, issued by a Denison bank, that was approved by the SBA.

Applying for an SBA loan with Crawford Cnty Tr & Savings Bk worked out well for our friends at one local business in Ute, Iowa. They received an SBA loan for $53,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
UTE, IA 51060

SBA Loan Lender

CRAWFORD CNTY TR & SAVINGS BK
21 N MAIN
DENISON, IA 51442

This was a Low Documentation SBA loan. The SBA launched this program to limit 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235990 - Special Trade Contractors

Loan Approval Date

8/5/2002

Loan Approval Gross Amount

$53,000

Loan Approval from the SBA

Of the total $53,000 loan amount, the SBA guaranteed $45,050.

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 only one employee. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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SBA 7A Banks in Denison, Iowa

Getting an SBA Loan in Iowa