Getting an SBA Loan for Poured Concrete Foundation and Structure Contractors

Looking for commercial loans for poured concrete foundation and structure contractors? Talk to a banker who works with the SBA. This $196,500 poured concrete foundation and structure contractors loan was issued by an Iowa bank.

This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Cedar Rapids Bank & Trust, out of Cedar Rapids, Iowa. The loan was granted and they received $196,500 to help grow their West Burlington, Iowa business.

SBA Loan Borrower

COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS
WEST BURLINGTON, IA 52655

SBA Loan Lender

CEDAR RAPIDS BANK & TRUST
500 1ST AVE NE, STE 100
CEDAR RAPIDS, IA 52401

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

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

3/13/2007

Loan Approval Gross Amount

$196,500

Loan Approval from the SBA

Of the total $196,500 loan amount, the SBA guaranteed $147,375.

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 13 employees. This SBA loan request indicated that the loan would help retain 13 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Cedar Rapids Bank & Trust 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.

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