Borrowing Money for Masonry and Stone Contractors

With these bank loans for masonry and stone contractors, the SBA guarantees the lender that the loan will be repaid. This masonry and stone contractors loan for $150,000 was given to an Iowa entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in Eldridge, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Northwest Bank & Trust Company, based in Davenport, Iowa.

SBA Loan Borrower

COMPANY TYPE: MASONRY AND STONE CONTRACTORS
ELDRIDGE, IA 52748

SBA Loan Lender

NORTHWEST BANK & TRUST COMPANY
100 E KIMBERLY
DAVENPORT, IA 52806

The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

235410 - Masonry and Stone Contractors

Loan Approval Date

3/30/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 SBA loan documents indicated that the loan would help generate 7 new jobs and retain 9 existing jobs.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Northwest Bank & Trust Company so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Equity Financing

SBA Banks in Davenport, Iowa

Getting an SBA Loan in Iowa