Company Gets an Iowa Business Loan

SBA loans in Iowa are tough to come by these days. We take a look at one Iowa SBA loan, provided by an Iowa bank, that was approved by the SBA.

Getting a small business loan in Des Moines, Iowa was a top priority for this particular business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from West Bank. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION, MINING, AND FORESTRY MACHINERY EQUIPMENT RENTAL AND LEASING
DES MOINES, IA 50313

SBA Loan Lender

WEST BANK
1601 22ND ST
WEST DES MOINES, IA 50266

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532412 - Construction, Mining, and Forestry Machinery Equipment Rental and Leasing

Loan Approval Date

8/24/2006

Loan Approval Gross Amount

$435,000

Loan Approval from the SBA

Of the total $435,000 loan amount, the SBA guaranteed $326,250.

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 SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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:

Small Business Loan

Find an SBA Lender in West Des Moines, Iowa

Iowa SBA 7A Lenders