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May 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Cedar Rapids, Business Loans > Cedar Rapids Bank & Trust Cedar Rapids Business Loans > Interior Design Services Loan | ||||
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SBA Lender Hiawatha
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SBA Loan from Cedar Rapids Bank & Trust Helps Interior Design Services CompanyAn SBA loan from Cedar Rapids Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hiawatha, Iowa business owner got a $128,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hiawatha, Iowa was able to borrow $128,000 from Cedar Rapids Bank & Trust. The SBA made the loan possible by guaranteeing $108,800 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: INTERIOR DESIGN SERVICES SBA Loan Lender CEDAR RAPIDS BANK & TRUST This was a Low Documentation SBA loan. The SBA launched this program to limit 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541410 - Interior Design Services Loan Approval Date 2/12/2004 Loan Approval Gross Amount $128,000 Loan Approval from the SBA Of the total $128,000 loan amount, the SBA guaranteed $108,800. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money 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 $128,000 loan. Remember, feel the fear, and do it anyway. 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: SBA Participating Banks in Cedar Rapids, Iowa
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