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May 15, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Ottumwa, Business Loans > Hedrick Savings Bank Ottumwa Business Loans > Prefabricated Metal Building And Component Manufacturing Loan | ||||
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Hedrick Savings Bank Fairfield
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Hedrick Savings Bank SBA Loan to Prefabricated Metal Building And Component Manufacturing CompanyHedrick Savings Bank has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fairfield, Iowa was able to borrow $100,000 from Hedrick Savings Bank. The SBA made the loan possible by guaranteeing $85,000 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: PREFABRICATED METAL BUILDING AND COMPONENT MANUFACTURING SBA Loan Lender HEDRICK SAVINGS BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332311 - Prefabricated Metal Building and Component Manufacturing Loan Approval Date 12/23/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 10 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Where to Get an SBA Loan in Ottumwa, Iowa
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