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November 15, 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 > Roofing Contractors Loan | ||||
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Fort Dodge, Iowa SBA Banks
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Fort Dodge, Iowa Bank Gives SBA Loan to Roofing Contractors CompanyThinking about meeting with a Fort Dodge, Iowa bank about an SBA loan? Here's one Iowa business loan, issued by a Fort Dodge bank, that was approved by the SBA. Applying for an SBA loan with First American Bank worked out well for our friends at one local firm in Fort Dodge, Iowa. They received an SBA loan for $250,000. Way to go! SBA Loan Borrower COMPANY TYPE: ROOFING CONTRACTORS SBA Loan Lender FIRST AMERICAN BANK This lender issued this bank loan under the 7A SBA 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 238160 - Roofing Contractors Loan Approval Date 5/27/2004 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. 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 First American 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. Related Links:
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