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May 18, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Clear Lake, Business Loans > Clear Lake Bank & Trust Clear Lake Business Loans > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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Tips for Businesses On Getting a Loan
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Financing for Plumbing, Heating, and Air-Conditioning ContractorsLooking for commercial loans for plumbing, heating, and air-conditioning contractors? An SBA loan may be just what you've been looking for. This $635,000 plumbing, heating, and air-conditioning contractors loan was issued by an Iowa bank. This business knew how to go about getting a business bank loan. Based in Clear Lake, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Clear Lake Bank & Trust, based in Clear Lake, Iowa. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender CLEAR LAKE BANK & TRUST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program. 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 5/22/2007 Loan Approval Gross Amount $635,000 Loan Approval from the SBA Of the total $635,000 loan amount, the SBA guaranteed $476,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 16 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Clear Lake Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - Friends and Family Who Lends Money to Small Businesses in Clear Lake, Iowa
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