Business Loan from Farmers & Merchants Savings Bk Given to Reconstituted Wood Product Manufacturing Company

Farmers & Merchants Savings Bk is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Iowa entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Washington, Iowa was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Farmers & Merchants Savings Bk, operating out of Iowa City, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: RECONSTITUTED WOOD PRODUCT MANUFACTURING
WASHINGTON, IA 52353

SBA Loan Lender

FARMERS & MERCHANTS SAVINGS BK
2235 MORMON TREK BLVD
IOWA CITY, IA 52246

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

321219 - Reconstituted Wood Product Manufacturing

Loan Approval Date

9/5/2007

Loan Approval Gross Amount

$566,283

Loan Approval from the SBA

Of the total $566,283 loan amount, the SBA guaranteed $424,712.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Advice on Getting a Small Business Loan

Small Bank Loans in Iowa City, Iowa

Iowa SBA 7A Banks