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May 18, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Fort Dodge, Business Loans > First American Bank Fort Dodge Business Loans > Building Equipment Contractors Loan | ||||
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First American Bank
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Urbandale, Iowa Business Gets SBA-Guaranteed Funding from First American BankFirst American Bank has a track record as a leading provider of SBA loans. Find out how this Iowa entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Urbandale, Iowa, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was First American Bank, based in Fort Dodge, Iowa. SBA Loan Borrower COMPANY TYPE: BUILDING EQUIPMENT CONTRACTORS SBA Loan Lender FIRST AMERICAN BANK This lender issued this SBA loan under the SBA's 7(a) guaranteed loan 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 238290 - Building Equipment Contractors Loan Approval Date 12/6/2007 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First American Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First American Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Find an SBA Lender in Fort Dodge, Iowa
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