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December 22, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Conrad, Business Loans > First State Bank, Conrad, Iowa Conrad Business Loans > Painting And Wall Covering Contractors Loan | ||||
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Conrad SBA Lenders
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Entrepreneur Works With Conrad, Iowa Bank to Get an SBA LoanThinking about meeting with a Conrad, Iowa bank about a small business loan? Here's one Iowa business loan, issued by a Conrad bank, that was approved by the SBA. Applying for an SBA loan with First State Bank, Conrad, Iowa worked out well for our friends at one local business in Marshalltown, Iowa. The business was able to get an SBA loan for $1,235,000. Nice! SBA Loan Borrower COMPANY TYPE: PAINTING AND WALL COVERING CONTRACTORS SBA Loan Lender FIRST STATE BANK, CONRAD, IOWA As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238320 - Painting and Wall Covering Contractors Loan Approval Date 11/29/2006 Loan Approval Gross Amount $1,235,000 Loan Approval from the SBA Of the total $1,235,000 loan amount, the SBA guaranteed $926,250. 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 4 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 7 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Determining Proper Capital Structure for a Business Find an SBA Lender in Conrad, Iowa
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