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May 17, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Rochester, Business Loans > Home Federal Savings Bank Rochester Business Loans > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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Iowa Small Business Funding
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Getting an SBA Loan for Plumbing, Heating, and Air-Conditioning ContractorsLooking for business loans for plumbing, heating, and air-conditioning contractors? Talk to a banker who works with the SBA. This $80,000 plumbing, heating, and air-conditioning contractors loan was issued by a Minnesota bank. This business knew how to go about getting a business bank loan. Based in Gladbrook, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Home Federal Savings Bank, based in Rochester, Minnesota. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender HOME FEDERAL SAVINGS BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This 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 3/17/2006 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $68,000. 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 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $80,000 loan. Remember, if it to be, it is up to me! 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: Family and Friend Investors - Your First Financiers Best Banks for Small Business in Rochester, Minnesota
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