How to Get a Loan for Commercial and Industrial Machinery and Equipment

With these business loans for commercial and industrial machinery and equipment, the SBA guarantees the lender that the loan will be repaid. This commercial and industrial machinery and equipment loan for $96,688 was given to an Iowa entrepreneur in 2006.

Getting a small business loan in Davenport, Iowa was important for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First National Bank, operating out of Davenport, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
DAVENPORT, IA 52802

SBA Loan Lender

FIRST NATIONAL BANK
3717 N BRADY ST
DAVENPORT, IA 52806

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

5/12/2006

Loan Approval Gross Amount

$96,688

Loan Approval from the SBA

Of the total $96,688 loan amount, the SBA guaranteed $82,185.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First National Bank and they will explain how you can get an SBA loan for your company.

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:

Bank Credit Lines

SBA 7A Banks for Davenport, Iowa Loans

Getting an SBA Loan in Iowa