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May 16, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Council Bluffs, Business Loans > Midstates Bank Council Bluffs Business Loans > Construction, Mining, And Forestry Machinery Equipment Rental And Leasing Loan | ||||
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Small Business Banks for Woodbine, Iowa Small Business Owners
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Small Business Loans for Construction, Mining, and Forestry Machinery Equipment Rental and LeasingLooking for small business loans for construction, mining, and forestry machinery equipment rental and leasing? An SBA loan may be just what you've been looking for. This $90,000 construction, mining, and forestry machinery equipment rental and leasing loan was issued by an Iowa bank. This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Midstates Bank, out of Council Bluffs, Iowa. The loan was granted and they received $90,000 to help grow their Woodbine, Iowa business. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION, MINING, AND FORESTRY MACHINERY EQUIPMENT RENTAL AND LEASING SBA Loan Lender MIDSTATES BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 532412 - Construction, Mining, and Forestry Machinery Equipment Rental and Leasing Loan Approval Date 4/2/2004 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $76,500. 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 only one employee. This SBA loan request did not indicate that the company promised to use the money to increase staffing levels 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. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Midstates Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA Participating Banks in Council Bluffs, Iowa
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