How to Get a Loan for New Multifamily Housing Construction

With these business loans for new multifamily housing construction, the SBA guarantees the lender that the loan will be repaid. This new multifamily housing construction loan for $345,800 was given to an Iowa entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sioux Center, Iowa was able to borrow $345,800 from Primebank. The SBA made the loan possible by guaranteeing $259,350 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: NEW MULTIFAMILY HOUSING CONSTRUCTION
SIOUX CENTER, IA 51250

SBA Loan Lender

PRIMEBANK
1601 S MAIN AVE
SIOUX CENTER, IA 51250

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

236116 - New Multifamily Housing Construction

Loan Approval Date

10/28/2004

Loan Approval Gross Amount

$345,800

Loan Approval from the SBA

Of the total $345,800 loan amount, the SBA guaranteed $259,350.

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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Primebank and they will explain how you can get an SBA loan for your company.

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:

Financing Your Business

SBA 7A Lenders in Sioux Center, Iowa

SBA Lenders in Iowa