Financing for Fabricated Metal Product Manufacturing

With these loans for fabricated metal product manufacturing, the SBA guarantees the lender that the loan will be repaid. This fabricated metal product manufacturing loan for $85,500 was given to an Iowa entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in Parkersburg, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Lincoln Savings Bank, based in Aplington, Iowa.

SBA Loan Borrower

COMPANY TYPE: FABRICATED METAL PRODUCT MANUFACTURING
PARKERSBURG, IA 50665

SBA Loan Lender

LINCOLN SAVINGS BANK
932 PARRIOTT
APLINGTON, IA 50604

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332999 - Fabricated Metal Product Manufacturing

Loan Approval Date

6/9/2003

Loan Approval Gross Amount

$85,500

Loan Approval from the SBA

Of the total $85,500 loan amount, the SBA guaranteed $72,675.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Lincoln Savings Bank 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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Best Aplington, Iowa Banks for Small Business

Iowa SBA Banks