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May 13, 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 Lender Cedar Rapids, Iowa
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Cedar Rapids, Iowa Bank Lends Money to Plumbing, Heating, And Air-Conditioning Contractors Company in Cedar Rapids, IowaGet to know Cedar Rapids, Iowa banks that specialize in business loans and know how to work with entrepreneurs. Cedar Rapids Bank & Trust is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Cedar Rapids, Iowa starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Cedar Rapids Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender CEDAR RAPIDS BANK & TRUST This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 5/17/2005 Loan Approval Gross Amount $230,000 Loan Approval from the SBA Of the total $230,000 loan amount, the SBA guaranteed $172,500. 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 8 employees. This SBA loan request did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This SBA loan was for $230,000. How would you spend $230,000 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: SBA 7A Banks for Cedar Rapids, Iowa Loans
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