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May 9, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Adair, Business Loans > Exchange State Bank Adair Business Loans > Flooring Contractors Loan | ||||
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Getting an SBA Loan in Winterset, Iowa
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Local Business Gets an Iowa SBA LoanWould an Iowa business loan help your company expand? If so, you may want to talk with this Iowa bank, which offers SBA loans to Iowa entrepreneurs. Getting a small business loan in Winterset, Iowa was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Exchange State Bank. Here are the details on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: FLOORING CONTRACTORS SBA Loan Lender EXCHANGE STATE BANK The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 238330 - Flooring Contractors Loan Approval Date 11/23/2005 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $100,000. 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 7 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Exchange State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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:
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