Where to Get Capital for Poured Concrete Foundation and Structure Contractors
Looking for SBA loans for poured concrete foundation and structure contractors? An SBA loan may be just what you've been looking for. This $150,000 poured concrete foundation and structure contractors loan was issued by an Iowa bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Schleswig, Iowa was able to borrow $150,000 from United Bank Of Iowa. The SBA made the loan possible by guaranteeing $127,500 of this Iowa small business loan.
SBA Loan Borrower
COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS
SCHLESWIG, IA 51461
SBA Loan Lender
UNITED BANK OF IOWA
501 2ND ST
IDA GROVE, IA 51445
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
238110 - Poured Concrete Foundation and Structure Contractors
Loan Approval Date
9/21/2005
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
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 30 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Every year, the SBA guarantees over $10 billion for loans just like this one.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
The Friends and Family Network
Where to Get an SBA Loan in Ida Grove, Iowa
Iowa SBA Bank Lenders