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May 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > West Des Moines, Business Loans > West Bank West Des Moines Business Loans > Plumbing, Heating, And Air Conditioning Contractors Loan | ||||
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Requirements for Business Owners On Getting a Loan
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Small Business Loans for Plumbing, Heating, and Air Conditioning ContractorsLooking for small business loans for plumbing, heating, and air conditioning contractors? Try the SBA. This $150,000 plumbing, heating, and air conditioning contractors loan was issued by an Iowa bank. This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with West Bank, out of West Des Moines, Iowa. The loan was granted and they received $150,000 to help grow their Des Moines, Iowa business. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR CONDITIONING CONTRACTORS SBA Loan Lender WEST BANK This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235110 - Plumbing, Heating, and Air Conditioning Contractors Loan Approval Date 10/8/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 15 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from West Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Small Bank Loans in West Des Moines, Iowa
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