Loans for Transportation Equipment Manufacturing

With these loans for transportation equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This transportation equipment manufacturing loan for $65,600 was given to an Iowa entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Britt, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was First State Bank, based in Britt, Iowa.

SBA Loan Borrower

COMPANY TYPE: TRANSPORTATION EQUIPMENT MANUFACTURING
BRITT, IA 50423

SBA Loan Lender

FIRST STATE BANK
183 MAIN AVE NORTH
BRITT, IA 50423

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

336999 - Transportation Equipment Manufacturing

Loan Approval Date

12/14/2001

Loan Approval Gross Amount

$65,600

Loan Approval from the SBA

Of the total $65,600 loan amount, the SBA guaranteed $55,760.

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 documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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SBA Banks in Britt, Iowa

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