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May 8, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Johnston, Business Loans > Charter Bank Johnston Business Loans > General Automotive Repair Loan | ||||
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Get a Small Business Loan from Charter Bank
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SBA Loan from Charter Bank Helps General Automotive Repair CompanyCharter Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Iowa entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Waukee, Iowa was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Charter Bank, operating out of Johnston, Iowa. Here are the details on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender CHARTER BANK This lender issued this particular SBA 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 811111 - General Automotive Repair Loan Approval Date 5/19/2004 Loan Approval Gross Amount $101,000 Loan Approval from the SBA Of the total $101,000 loan amount, the SBA guaranteed $85,850. More Information on This SBA Loan The borrower borrowed this money for an existing 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 4 employees. This SBA loan request did not indicate that the SBA funding recipient planned 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 loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to find other ways to get money to start a business, 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:
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