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May 17, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Adair, Business Loans > Exchange State Bank Adair Business Loans > Hardware Stores Loan | ||||
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SBA Lenders Iowa
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Adair, Iowa Bank Gives SBA Loan to Hardware Stores CompanyThinking about meeting with an Adair, Iowa bank about an SBA loan? Here's one Iowa business loan, issued by an Adair bank, that was approved by the SBA. Applying for an SBA loan with Exchange State Bank worked out well for our friends at one local firm in Adair, Iowa. They got an SBA loan for $40,000. Awesome! SBA Loan Borrower COMPANY TYPE: HARDWARE STORES SBA Loan Lender EXCHANGE STATE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 444130 - Hardware Stores Loan Approval Date 10/29/2003 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. 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 4 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Exchange State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Small Bank Loans in Adair, Iowa
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