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May 8, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Drinking Places Loan | ||||
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Iowa Small Business SBA Loans
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Iowa Bank Loan Issued to Drinking Places CompanyIowaBusiness loans are available to Iowa business owners through the SBA. In this case, a Minnesota bank provides the loan. By giving the right information to Wells Fargo Bank, this Cedar Rapids, Iowa business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender WELLS FARGO BANK When it made this small business loan, this bank participated in the SBA's Certified Lenders Program (CLP). This program aims to ensure rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722410 - Drinking Places Loan Approval Date 11/18/2002 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 27 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Find an SBA Lender in Minneapolis, Minnesota Browse All Business Loan Sources for Minnesota
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