Fort Dodge, Iowa Bank Lends Money to Conveyor And Conveying Equipment Manufacturing Company in West Bend, Iowa

Want to talk with a Fort Dodge, Iowa bank about a business loan? Here's one Iowa business loan, issued by a Fort Dodge bank, that was approved by the SBA.

Applying for an SBA loan with First American Bank worked out well for our friends at one local business in West Bend, Iowa. They got an SBA loan for $90,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: CONVEYOR AND CONVEYING EQUIPMENT MANUFACTURING
WEST BEND, IA 50597

SBA Loan Lender

FIRST AMERICAN BANK
1207 CENTRAL AVE
FORT DODGE, IA 50501

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

333922 - Conveyor and Conveying Equipment Manufacturing

Loan Approval Date

4/24/2007

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 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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First American Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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Small Business Banks in Fort Dodge, Iowa

Getting an SBA Loan in Iowa