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May 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Cedar Rapids, Business Loans > Cedar Rapids Bank & Trust Cedar Rapids Business Loans > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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SBA Lenders in Iowa
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Plumbing, Heating, and Air-Conditioning Contractors Small Business LoansLooking for small business loans for plumbing, heating, and air-conditioning contractors? The SBA may be the answer. This $150,000 plumbing, heating, and air-conditioning contractors loan was issued by an Iowa bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cedar Rapids, Iowa was able to borrow $150,000 from Cedar Rapids Bank & Trust. The SBA made the loan possible by guaranteeing $75,000 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender CEDAR RAPIDS BANK & TRUST This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 5/3/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Cedar Rapids Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: SBA Banks in Cedar Rapids, Iowa
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