Concrete Product Manufacturing SBA Loans

With these SBA loans for concrete product manufacturing, the SBA guarantees the lender that the loan will be repaid. This concrete product manufacturing loan for $1,200,000 was given to an Iowa entrepreneur in 2006.

Getting a small business loan in Grundy Center, Iowa was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Midwestone Bank, operating out of Waterloo, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: CONCRETE PRODUCT MANUFACTURING
GRUNDY CENTER, IA 50638

SBA Loan Lender

MIDWESTONE BANK
405 W JEFFERSON
WATERLOO, IA 50701

This SBA loan 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

327390 - Concrete Product Manufacturing

Loan Approval Date

2/2/2006

Loan Approval Gross Amount

$1,200,000

Loan Approval from the SBA

Of the total $1,200,000 loan amount, the SBA guaranteed $900,000.

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 19 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 Midwestone 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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Small Bank Loans in Waterloo, Iowa

Iowa SBA Bank Lenders