Raising Money for Air-Conditioning and Warm Air Heating Equipment

Looking for business loans for air-conditioning and warm air heating equipment? An SBA loan may be just what you've been looking for. This $383,638 air-conditioning and warm air heating equipment loan was issued by an Illinois bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Muscatine, Iowa was able to borrow $383,638 from Midamerica National Bank. The SBA made the loan possible by guaranteeing $287,729 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: AIR-CONDITIONING AND WARM AIR HEATING EQUIPMENT
MUSCATINE, IA 52761

SBA Loan Lender

MIDAMERICA NATIONAL BANK
100 W ELM ST
CANTON, IL 61520

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333415 - Air-Conditioning and Warm Air Heating Equipment

Loan Approval Date

10/25/2005

Loan Approval Gross Amount

$383,638

Loan Approval from the SBA

Of the total $383,638 loan amount, the SBA guaranteed $287,729.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 50 employees. This SBA loan request did not indicate that the SBA funding recipient planned 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?

Every year, the SBA guarantees over $10 billion for loans just like this one.

We can help you find the best banks for small businesses in Muscatine or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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