Commercial Loans for Drinking Places

Looking for commercial loans for drinking places? The SBA may be the answer. This $32,000 drinking places loan was issued by an Iowa bank.

Getting a small business loan in Williamson, Iowa was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Midwest Heritage Bank, F.S.B., operating out of Chariton, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
WILLIAMSON, IA 50272

SBA Loan Lender

MIDWEST HERITAGE BANK, F.S.B.
1025 BRADEN AVE
CHARITON, IA 50049

This lender issued this particular business 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

722410 - Drinking Places

Loan Approval Date

3/12/2004

Loan Approval Gross Amount

$32,000

Loan Approval from the SBA

Of the total $32,000 loan amount, the SBA guaranteed $27,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $32,000. How would you spend $32,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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