Bank Loans for Painting and Wall Covering Contractors

With these bank loans for painting and wall covering contractors, the SBA guarantees the lender that the loan will be repaid. This painting and wall covering contractors loan for $90,000 was given to an Iowa entrepreneur in 2004.

Getting a small business loan in Salem, Iowa was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Fort Madison Bank & Trust Co., operating out of Fort Madison, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINTING AND WALL COVERING CONTRACTORS
SALEM, IA 52649

SBA Loan Lender

FORT MADISON BANK & TRUST CO.
636 AVE G
FORT MADISON, IA 52627

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238320 - Painting and Wall Covering Contractors

Loan Approval Date

2/11/2004

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Fort Madison Bank & Trust Co. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Fort Madison Bank & Trust Co. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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