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December 23, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Cascade, Business Loans > Tri-County Bank & Trust Cascade Business Loans > Home And Garden Equipment Repair And Maintenance Loan | ||||
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What Does It Take to Get a Business Loan in Monticello, Iowa?
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Get an SBA Loan for Home and Garden Equipment Repair and MaintenanceWith these small business loans for home and garden equipment repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This home and garden equipment repair and maintenance loan for $65,000 was given to an Iowa entrepreneur in 2005. This company knew how to go about getting a business bank loan. Based in Monticello, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Tri-County Bank & Trust, based in Cascade, Iowa. SBA Loan Borrower COMPANY TYPE: HOME AND GARDEN EQUIPMENT REPAIR AND MAINTENANCE SBA Loan Lender TRI-COUNTY BANK & TRUST This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811411 - Home and Garden Equipment Repair and Maintenance Loan Approval Date 4/26/2005 Loan Approval Gross Amount $65,000 Loan Approval from the SBA Of the total $65,000 loan amount, the SBA guaranteed $55,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Tri-County Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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:
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