Financing for Machine Shops

With these commercial loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $65,000 was given to an Iowa entrepreneur in 2001.

Getting a small business loan in Ottumwa, Iowa was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Hedrick Savings Bank, operating out of Ottumwa, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
OTTUMWA, IA 52501

SBA Loan Lender

HEDRICK SAVINGS BANK
216 S MARKET ST
OTTUMWA, IA 52501

This SBA 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

332710 - Machine Shops

Loan Approval Date

9/4/2001

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. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

We've showcased information on this loan to let you know that businesses like yours 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.

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SBA 7A Banks in Ottumwa, Iowa

Where to Get an SBA Loan Iowa