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May 21, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Adel, Business Loans > Raccoon Valley Bank Adel Business Loans > Men's And Boys' Clothing Loan | ||||
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SBA Lenders for Perry Small Business Owners
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Company Gets an Iowa Bank LoanWant an Iowa SBA loan? This Iowa entrepreneur got an SBA loan, provided by an Iowa bank that works with the SBA to help small business owners. This company, based in Perry, Iowa, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Raccoon Valley Bank. We've got the inside scoop on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: MEN'S AND BOYS' CLOTHING SBA Loan Lender RACCOON VALLEY BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2329 - Men's and Boys' Clothing Loan Approval Date 1/25/2000 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. 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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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 Adel, Iowa Loans
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