Business Loan from First American Bank Given to Machine Shops Company

An SBA loan from First American Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a West Des Moines, Iowa business owner got a $375,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in West Des Moines, Iowa was able to borrow $375,000 from First American Bank. The SBA made the loan possible by guaranteeing $281,250 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
WEST DES MOINES, IA 50265

SBA Loan Lender

FIRST AMERICAN BANK
12730 NEW BRITTANY BLVD
FORT MYERS, FL 33907

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

4/5/2007

Loan Approval Gross Amount

$375,000

Loan Approval from the SBA

Of the total $375,000 loan amount, the SBA guaranteed $281,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the funding would help generate 4 new jobs.

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

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.

This SBA loan was for $375,000. How would you spend $375,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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