Where to Get Capital for Construction Machinery Manufacturing

With these small business loans for construction machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This construction machinery manufacturing loan for $700,000 was given to an Iowa entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Grundy Center, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Midwestone Bank, based in Oskaloosa, Iowa.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION MACHINERY MANUFACTURING
GRUNDY CENTER, IA 50638

SBA Loan Lender

MIDWESTONE BANK
124 S 1ST ST
OSKALOOSA, IA 52577

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

333120 - Construction Machinery Manufacturing

Loan Approval Date

4/5/2006

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $147,000.

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 29 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 24 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

We can help you find the best banks for small businesses in Grundy Center 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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