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May 15, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Ames, Business Loans > Ames Community Bank Ames Business Loans > Full-Service Restaurants Loan | ||||
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SBA Lenders in Iowa
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SBA Loan from Ames Community Bank Helps Full-Service Restaurants CompanyAn SBA loan from Ames Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Huxley, Iowa business owner got a $80,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Huxley, Iowa was able to borrow $80,000 from Ames Community Bank. The SBA made the loan possible by guaranteeing $68,000 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender AMES COMMUNITY 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 722110 - Full-Service Restaurants Loan Approval Date 5/31/2005 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $68,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This SBA loan was for $80,000. How would you spend $80,000 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: SBA 7A Banks for Ames, Iowa Loans
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