Getting an SBA Loan for Plumbing, Heating, and Air-Conditioning Contractors

Looking for business loans for plumbing, heating, and air-conditioning contractors? The SBA may be the answer. This $800,000 plumbing, heating, and air-conditioning contractors loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fairmont, Minnesota was able to borrow $800,000 from First Bank Blue Earth. The SBA made the loan possible by guaranteeing $600,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS
FAIRMONT, MN 56031

SBA Loan Lender

FIRST BANK BLUE EARTH
306 S MAIN
BLUE EARTH, MN 56013

This lender issued this small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238220 - Plumbing, Heating, and Air-Conditioning Contractors

Loan Approval Date

9/22/2006

Loan Approval Gross Amount

$800,000

Loan Approval from the SBA

Of the total $800,000 loan amount, the SBA guaranteed $600,000.

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

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First Bank Blue Earth 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.

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