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May 17, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Osceola, Business Loans > American State Bank Osceola Business Loans > Eating Places Loan | ||||
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Iowa Bank SBA Loans
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American State Bank SBA Loan to Eating Places CompanyWant an Iowa small business loan? Here's one Iowa business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in Des Moines, Iowa, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was American State Bank, based in Osceola, Iowa. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender AMERICAN STATE BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 1/11/2000 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $60,000. 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 18 employees. The SBA loan documents did not indicate that the small business planned to use the money 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. 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: Where to Get an SBA Loan in Osceola, Iowa
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