Get an SBA Loan for Motor Vehicle Body Manufacturing

With these small business loans for motor vehicle body manufacturing, the SBA guarantees the lender that the loan will be repaid. This motor vehicle body manufacturing loan for $390,000 was given to an Iowa entrepreneur in 2005.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Vantus Bank, out of Sioux City, Iowa. The loan was granted and they received $390,000 to help grow their Rock Rapids, Iowa business.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE BODY MANUFACTURING
ROCK RAPIDS, IA 51246

SBA Loan Lender

VANTUS BANK
329 PIERCE ST
SIOUX CITY, IA 51101

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

336211 - Motor Vehicle Body Manufacturing

Loan Approval Date

5/27/2005

Loan Approval Gross Amount

$390,000

Loan Approval from the SBA

Of the total $390,000 loan amount, the SBA guaranteed $292,500.

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 46 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Vantus 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.

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SBA Participating Banks in Sioux City, Iowa

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