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May 9, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Plastics Bag And Pouch Manufacturing Loan | ||||
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Iowa Small Business SBA Loans
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Iowa Bank Loan Issued to Plastics Bag And Pouch Manufacturing CompanyBusiness loans in Iowa are are few and far betweeen these days. We take a look at one Iowa business loan, provided by a Minnesota bank, that was approved by the SBA. This company, based in Cedar Rapids, Iowa, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Wells Fargo Bank. We've got the inside scoop on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: PLASTICS BAG AND POUCH MANUFACTURING SBA Loan Lender WELLS FARGO 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 326111 - Plastics Bag and Pouch Manufacturing Loan Approval Date 3/21/2002 Loan Approval Gross Amount $53,500 Loan Approval from the SBA Of the total $53,500 loan amount, the SBA guaranteed $45,475. 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 2 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 Wells Fargo 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: Best Minneapolis, Minnesota Banks for Small Business
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