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May 10, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Fort Dodge, Business Loans > First American Bank Fort Dodge Business Loans > Concrete Product Manufacturing Loan | ||||
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Banks Doing SBA Loans in Iowa
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Fort Dodge, Iowa Bank Lends Money to Concrete Product Manufacturing Company in Clive, IowaThinking about meeting with a Fort Dodge, Iowa bank about an SBA 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 firm in Clive, Iowa. They got an SBA loan for $50,000. Awesome! SBA Loan Borrower COMPANY TYPE: CONCRETE PRODUCT MANUFACTURING SBA Loan Lender FIRST AMERICAN BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 327390 - Concrete Product Manufacturing Loan Approval Date 7/9/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 3 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Microlending as a Small Business Funding Source SBA 7A Banks in Fort Dodge, Iowa
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