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May 16, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > West Des Moines, Business Loans > First Bank West Des Moines Business Loans > Interior Design Services Loan | ||||
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Iowa Bank SBA Loans
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Business Loan from First Bank Given to Interior Design Services CompanyFirst Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Iowa entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clive, Iowa was able to borrow $288,300 from First Bank. The SBA made the loan possible by guaranteeing $216,225 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: INTERIOR DESIGN SERVICES SBA Loan Lender FIRST BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541410 - Interior Design Services Loan Approval Date 4/29/2004 Loan Approval Gross Amount $288,300 Loan Approval from the SBA Of the total $288,300 loan amount, the SBA guaranteed $216,225. 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 5 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! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours 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. Related Links: Dealing With Venture Capitalists Good Banks for Small Business in West Des Moines, Iowa
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