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May 10, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Spencer, Business Loans > Northwest Federal Savings Bank Spencer Business Loans > Landscaping Services Loan | ||||
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Iowa SBA Lenders
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Spencer, Iowa Lender Lends Money to Landscaping Services CompanyThinking about meeting with a Spencer, Iowa bank about an SBA loan? Here's one Iowa business loan, issued by a Spencer bank, that was approved by the SBA. Applying for an SBA loan with Northwest Federal Savings Bank worked out well for our friends at one local firm in Des Moines, Iowa. They received an SBA loan for $63,000. Sweet! SBA Loan Borrower COMPANY TYPE: LANDSCAPING SERVICES SBA Loan Lender NORTHWEST FEDERAL SAVINGS BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561730 - Landscaping Services Loan Approval Date 3/29/2001 Loan Approval Gross Amount $63,000 Loan Approval from the SBA Of the total $63,000 loan amount, the SBA guaranteed $53,550. 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. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $63,000 loan. Remember, you control your own destiny. 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: Borrowing Money from Friends and Family SBA 7A Lenders in Spencer, Iowa
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