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May 15, 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 > Bowling Centers Loan | ||||
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Examples of Des Moines SBA Loans
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SBA Loans for Bowling CentersLooking for SBA loans for bowling centers? The SBA may be the answer. This $870,000 bowling centers loan was issued by an Iowa bank. This business knew how to go about getting a business bank loan. Based in Des Moines, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was First Bank, based in West Des Moines, Iowa. SBA Loan Borrower COMPANY TYPE: BOWLING CENTERS SBA Loan Lender FIRST BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713950 - Bowling Centers Loan Approval Date 5/23/2007 Loan Approval Gross Amount $870,000 Loan Approval from the SBA Of the total $870,000 loan amount, the SBA guaranteed $652,500. 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 15 employees. The SBA loan documents indicated that the loan would help retain 15 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA 7A Banks for West Des Moines, Iowa Loans
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