Where to Get Capital for Drywall and Insulation Contractors

With these small business loans for drywall and insulation contractors, the SBA guarantees the lender that the loan will be repaid. This drywall and insulation contractors loan for $77,000 was given to an Iowa entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Marion, Iowa was able to borrow $77,000 from Cedar Rapids Bank & Trust. The SBA made the loan possible by guaranteeing $65,450 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYWALL AND INSULATION CONTRACTORS
MARION, IA 52302

SBA Loan Lender

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

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238310 - Drywall and Insulation Contractors

Loan Approval Date

3/28/2005

Loan Approval Gross Amount

$77,000

Loan Approval from the SBA

Of the total $77,000 loan amount, the SBA guaranteed $65,450.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Strategic Investors

Banks in Cedar Rapids, Iowa

SBA Iowa Banks