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May 9, 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 > Floor Covering Stores Loan | ||||
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SBA Lender Fort Dodge Iowa
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Floor Covering Stores LoansLooking for loans for floor covering stores? Try the SBA. This $469,000 floor covering stores loan was issued by an Iowa bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fort Dodge, Iowa was able to borrow $469,000 from Northwest Federal Savings Bank. The SBA made the loan possible by guaranteeing $351,750 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: FLOOR COVERING STORES SBA Loan Lender NORTHWEST FEDERAL SAVINGS BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 442210 - Floor Covering Stores Loan Approval Date 2/27/2003 Loan Approval Gross Amount $469,000 Loan Approval from the SBA Of the total $469,000 loan amount, the SBA guaranteed $351,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 14 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 16 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. This SBA loan was for $469,000. How would you spend $469,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Advice on Getting a Small Business Loan
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