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May 11, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Waterloo, Business Loans > Midwestone Bank Waterloo Business Loans > Concrete Product Manufacturing Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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Where to Get Capital for Concrete Product ManufacturingLooking for SBA loans for concrete product manufacturing? The SBA may be the answer. This $650,000 concrete product manufacturing loan was issued by an Iowa bank. This business knew how to go about getting a business bank loan. Based in Grundy Center, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Midwestone Bank, based in Waterloo, Iowa. SBA Loan Borrower COMPANY TYPE: CONCRETE PRODUCT MANUFACTURING SBA Loan Lender MIDWESTONE BANK This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 327390 - Concrete Product Manufacturing Loan Approval Date 11/29/2004 Loan Approval Gross Amount $650,000 Loan Approval from the SBA Of the total $650,000 loan amount, the SBA guaranteed $487,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 19 employees. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Realistic Debt Financing Options Where to Get an SBA Loan in Waterloo, Iowa
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