Raising Money for Home and Garden Equipment Repair and Maintenance

Looking for business loans for home and garden equipment repair and maintenance? An SBA loan may be just what you've been looking for. This $84,000 home and garden equipment repair and maintenance loan was issued by an Iowa bank.

Getting a small business loan in Atlantic, Iowa was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Rolling Hills Bank & Trust, operating out of Atlantic, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME AND GARDEN EQUIPMENT REPAIR AND MAINTENANCE
ATLANTIC, IA 50022

SBA Loan Lender

ROLLING HILLS BANK & TRUST
1307 E 7TH ST
ATLANTIC, IA 50022

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811411 - Home and Garden Equipment Repair and Maintenance

Loan Approval Date

12/18/2001

Loan Approval Gross Amount

$84,000

Loan Approval from the SBA

Of the total $84,000 loan amount, the SBA guaranteed $71,400.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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 Rolling Hills Bank & Trust 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:

SBIR Funding

SBA Approved Banks in Atlantic, Iowa

SBA Lenders in Iowa