How to Get a Loan for Commercial and Industrial Machinery and Equipment

Looking for SBA loans for commercial and industrial machinery and equipment? Try the SBA. This $50,000 commercial and industrial machinery and equipment loan was issued by an Iowa bank.

This small business knew how to go about getting a business bank loan. Based in Galva, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was American National Bank, based in Holstein, Iowa.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
GALVA, IA 51020

SBA Loan Lender

AMERICAN NATIONAL BANK
116 N KIEL ST
HOLSTEIN, IA 51025

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

2/27/2006

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 an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower 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!

If you need money to start business in Galva IA, you ought to talk with a local Galva SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Galva businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Business Credit Evaluation

SBA Approved Banks in Holstein, Iowa

Getting an SBA Loan in Iowa