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December 20, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Fort Dodge, Business Loans > First American Bank Fort Dodge Business Loans > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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Raising Money in Dayton, Iowa With SBA Loans
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Plumbing, Heating, and Air-Conditioning Contractors SBA LoansLooking for SBA loans for plumbing, heating, and air-conditioning contractors? The SBA may be the answer. This $254,000 plumbing, heating, and air-conditioning contractors loan was issued by an Iowa bank. This small business knew how to go about getting a business bank loan. Based in Dayton, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was First American Bank, based in Fort Dodge, Iowa. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender FIRST AMERICAN BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 10/26/2007 Loan Approval Gross Amount $254,000 Loan Approval from the SBA Of the total $254,000 loan amount, the SBA guaranteed $127,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: SBA 7A Lenders in Fort Dodge, Iowa
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