Fort Dodge, Iowa Bank Gives SBA Loan to Hand And Edge Tool Manufacturing Company

Get small business loans from a Fort Dodge, Iowa bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

First American Bank is a Fort Dodge, Iowa small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Iowa company.

SBA Loan Borrower

COMPANY TYPE: HAND AND EDGE TOOL MANUFACTURING
PATON, IA 50217

SBA Loan Lender

FIRST AMERICAN BANK
1207 CENTRAL AVE
FORT DODGE, IA 50501

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 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

332212 - Hand and Edge Tool Manufacturing

Loan Approval Date

5/23/2003

Loan Approval Gross Amount

$352,000

Loan Approval from the SBA

Of the total $352,000 loan amount, the SBA guaranteed $264,000.

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 11 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $352,000. How would you spend $352,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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SBA 7A Banks for Fort Dodge, Iowa Loans

Where to Get an SBA Loan Iowa