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May 8, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Sioux City, Business Loans > Vantus Bank Sioux City Business Loans > Custom Compounding Of Purchased Resins Loan | ||||
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SBA Loan from Vantus Bank
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Business Loan from Vantus Bank Given to Custom Compounding Of Purchased Resins CompanyAn SBA loan from Vantus Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Melvin, Iowa business owner got a $60,000 loan. This growing company knew how to go about getting a business bank loan. Based in Melvin, Iowa, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Vantus Bank, based in Sioux City, Iowa. SBA Loan Borrower COMPANY TYPE: CUSTOM COMPOUNDING OF PURCHASED RESINS SBA Loan Lender VANTUS BANK This was a Low Documentation SBA loan. The SBA created this program to minimize 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 325991 - Custom Compounding of Purchased Resins Loan Approval Date 7/1/2004 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. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to hire new employees 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: Borrowing Money from Friends and Family Who Lends Money to Small Businesses in Sioux City, Iowa
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