Business Loan from Guaranty Bank And Trust Co. Given to Chemical And Allied Products Merchant Wholesalers Company

An SBA loan from Guaranty Bank And Trust Co. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cedar Rapids, Iowa business owner got a $75,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Cedar Rapids, Iowa, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Guaranty Bank And Trust Co., based in Cedar Rapids, Iowa.

SBA Loan Borrower

COMPANY TYPE: CHEMICAL AND ALLIED PRODUCTS MERCHANT WHOLESALERS
CEDAR RAPIDS, IA 52404

SBA Loan Lender

GUARANTY BANK AND TRUST CO.
302 3RD AVE SE
CEDAR RAPIDS, IA 52401

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

424690 - Chemical and Allied Products Merchant Wholesalers

Loan Approval Date

8/18/2005

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to find business people willing to loan money, 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.

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