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May 15, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Whittemore, Business Loans > Farmers State Bank Whittemore Business Loans > Commercial And Service Industry Machinery Manufacturing Loan | ||||
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How to Get SBA Loans in Emmetsburg, Iowa
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Commercial and Service Industry Machinery Manufacturing Small Business LoansLooking for small business loans for commercial and service industry machinery manufacturing? An SBA loan may be just what you've been looking for. This $60,000 commercial and service industry machinery manufacturing loan was issued by an Iowa bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Emmetsburg, Iowa was able to borrow $60,000 from Farmers State Bank. The SBA made the loan possible by guaranteeing $51,000 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING SBA Loan Lender FARMERS STATE BANK This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333319 - Commercial and Service Industry Machinery Manufacturing Loan Approval Date 11/4/2003 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Best Banks for Small Business in Whittemore, Iowa
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