Get an SBA Loan for Carpentry Contractors

Looking for bank loans for carpentry contractors? Talk to a banker who works with the SBA. This $80,000 carpentry contractors loan was issued by an Iowa bank.

Getting a small business loan in Ames, Iowa was important for this growing firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from F&m Bank-Iowa, operating out of Marshalltown, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: CARPENTRY CONTRACTORS
AMES, IA 50010

SBA Loan Lender

F&M BANK-IOWA
11 N 1ST AVE
MARSHALLTOWN, IA 50158

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235510 - Carpentry Contractors

Loan Approval Date

12/7/2001

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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 F&m Bank-Iowa 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:

The Friends and Family Network

Best Marshalltown, Iowa Banks for Small Business

Iowa SBA Banks