1st National Bank & Trust - Iron Mo SBA Loan to Plumbing, Heating, And Air-Conditioning Company

An SBA loan from 1st National Bank & Trust - Iron Mo typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Florence, Wisconsin business owner got a $30,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Florence, Wisconsin, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was 1st National Bank & Trust - Iron Mo, based in Iron Mountain, Michigan.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING
FLORENCE, WI 54121

SBA Loan Lender

1ST NATIONAL BANK & TRUST - IRON MO
233 S STEPHENSON AVE
IRON MOUNTAIN, MI 49801

This lender issued this particular commercial 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

1711 - Plumbing, Heating, and Air-Conditioning

NAICS Code

235110 - Plumbing, Heating, and Air Conditioning Contractors

Loan Approval Date

12/27/2000

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $24,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We can help you find the best banks for small businesses in Florence or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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