Business Loans for Switchgear and Switchboard Apparatus Manufacturing

With these business loans for switchgear and switchboard apparatus manufacturing, the SBA guarantees the lender that the loan will be repaid. This switchgear and switchboard apparatus manufacturing loan for $1,200,000 was given to an Iowa entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St Charles, Iowa was able to borrow $1,200,000 from First American Bank. The SBA made the loan possible by guaranteeing $900,000 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: SWITCHGEAR AND SWITCHBOARD APPARATUS MANUFACTURING
ST CHARLES, IA 50240

SBA Loan Lender

FIRST AMERICAN BANK
4729 SW 9TH ST
DES MOINES, IA 50315

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

335313 - Switchgear and Switchboard Apparatus Manufacturing

Loan Approval Date

7/7/2003

Loan Approval Gross Amount

$1,200,000

Loan Approval from the SBA

Of the total $1,200,000 loan amount, the SBA guaranteed $900,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 50 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

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Find an SBA Lender in Des Moines, Iowa

SBA Iowa Lenders