Get an SBA Loan for Special Trade Contractors
Looking for bank loans for special trade contractors? Talk to a banker who works with the SBA. This $50,000 special trade contractors loan was issued by an Iowa bank.
This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with West Bank, out of West Des Moines, Iowa. The loan was granted and they received $50,000 to help grow their Des Moines, Iowa business.
SBA Loan Borrower
COMPANY TYPE: SPECIAL TRADE CONTRACTORS
DES MOINES, IA 50312
SBA Loan Lender
WEST BANK
1601 22ND ST
WEST DES MOINES, IA 50266
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
235990 - Special Trade Contractors
Loan Approval Date
9/27/2001
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $42,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide money to small business owners for working capital for other expenses.
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 West 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.
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