Hampton, Iowa Business Gets SBA-Guaranteed Funding from Hampton State Bank

Hampton State Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Iowa entrepreneur was able to get a loan to take a small business to the next level.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Hampton State Bank, out of Hampton, Iowa. The loan was granted and they received $17,400 to help grow their Hampton, Iowa business.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
HAMPTON, IA 50441

SBA Loan Lender

HAMPTON STATE BANK
100 1ST ST NW
HAMPTON, IA 50441

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

9/11/2002

Loan Approval Gross Amount

$17,400

Loan Approval from the SBA

Of the total $17,400 loan amount, the SBA guaranteed $14,790.

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 only one employee. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

Microlending as a Small Business Funding Source

SBA 7A Banks in Hampton, Iowa

SBA Lenders in Iowa