Business Loan from Cedar Rapids Bank & Trust Given to Tile, Marble, Terrazzo, And Mosaic Contractors Company

An SBA loan from Cedar Rapids Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lisbon, Iowa business owner got a $300,000 loan.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Cedar Rapids Bank & Trust, out of Cedar Rapids, Iowa. The loan was granted and they received $300,000 to help grow their Lisbon, Iowa business.

SBA Loan Borrower

COMPANY TYPE: TILE, MARBLE, TERRAZZO, AND MOSAIC CONTRACTORS
LISBON, IA 52253

SBA Loan Lender

CEDAR RAPIDS BANK & TRUST
500 1ST AVE NE, STE 100
CEDAR RAPIDS, IA 52401

This commercial 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

235430 - Tile, Marble, Terrazzo, and Mosaic Contractors

Loan Approval Date

6/18/2003

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 20 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $300,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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