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May 16, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > West Des Moines, Business Loans > Iowa State Bank West Des Moines Business Loans > Plumbing, Heating, And Air-Conditioning Loan | ||||
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I Need a Small Business Loan in Des Moines, Iowa
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Plumbing, Heating, and Air Conditioning Contractors Small Business LoansWith these small business loans for plumbing, heating, and air conditioning contractors, the SBA guarantees the lender that the loan will be repaid. This plumbing, heating, and air conditioning contractors loan for $29,500 was given to an Iowa entrepreneur in 2000. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Des Moines, Iowa was able to borrow $29,500 from Iowa State Bank. The SBA made the loan possible by guaranteeing $23,600 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING SBA Loan Lender IOWA STATE BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1711 - Plumbing, Heating, and Air-Conditioning NAICS Code 235110 - Plumbing, Heating, and Air Conditioning Contractors Loan Approval Date 6/1/2000 Loan Approval Gross Amount $29,500 Loan Approval from the SBA Of the total $29,500 loan amount, the SBA guaranteed $23,600. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Determining Proper Capital Structure for a Business Banks in West Des Moines, Iowa
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