Where to Get Capital for Single Family Housing Construction

With these small business loans for single family housing construction, the SBA guarantees the lender that the loan will be repaid. This single family housing construction loan for $75,000 was given to an Iowa entrepreneur in 2000.

This company knew how to go about getting a business bank loan. Based in West Union, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Elgin State Bank, based in Elgin, Iowa.

SBA Loan Borrower

COMPANY TYPE: SINGLE-FAMILY HOUSING CONSTRUCTION
WEST UNION, IA 52175

SBA Loan Lender

ELGIN STATE BANK
241 CENTER ST
ELGIN, IA 52141

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1521 - Single-Family Housing Construction

NAICS Code

233210 - Single Family Housing Construction

Loan Approval Date

12/6/2000

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $60,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 16 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $75,000. How would you spend $75,000 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.

Related Links:

SBIR Funding

Small Business Banks in Elgin, Iowa

Find an SBA Lender in Iowa