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May 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Iowa Falls, Business Loans > Green Belt Bank & Trust Iowa Falls Business Loans > Drinking Places Loan | ||||
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Alden, Iowa Bank Loan
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Getting an SBA Loan for Drinking PlacesLooking for commercial loans for drinking places? An SBA loan may be just what you've been looking for. This $60,000 drinking places loan was issued by an Iowa bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Alden, Iowa was able to borrow $60,000 from Green Belt Bank & Trust. The SBA made the loan possible by guaranteeing $51,000 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender GREEN BELT BANK & TRUST 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 722410 - Drinking Places Loan Approval Date 7/10/2003 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. 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 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Advice on Getting a Small Business Loan Where to Get an SBA Loan in Iowa Falls, Iowa
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