Bank Loans for Painting and Wall Covering

Looking for bank loans for painting and wall covering? An SBA loan may be just what you've been looking for. This $66,400 painting and wall covering loan was issued by an Iowa bank.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Fort Madison Bank & Trust Co., out of Fort Madison, Iowa. The loan was granted and they received $66,400 to help grow their Salem, Iowa business.

SBA Loan Borrower

COMPANY TYPE: PAINTING AND WALL COVERING
SALEM, IA 52649

SBA Loan Lender

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

This lender issued this particular SBA 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

235210 - Painting and Wall Covering

Loan Approval Date

5/14/2003

Loan Approval Gross Amount

$66,400

Loan Approval from the SBA

Of the total $66,400 loan amount, the SBA guaranteed $56,440.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $66,400 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Direct Public Offerings

Best Banks in Fort Madison, Iowa

Where to Get an SBA Loan Iowa