Getting an SBA Loan for Special Trade Contractors

Looking for commercial loans for special trade contractors? Talk to a banker who works with the SBA. This $110,500 special trade contractors loan was issued by an Iowa bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Vinton, Iowa was able to borrow $110,500 from Cedar Rapids Bank & Trust. The SBA made the loan possible by guaranteeing $93,925 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
VINTON, IA 52349

SBA Loan Lender

CEDAR RAPIDS BANK & TRUST
500 1ST AVE NE, STE 100
CEDAR RAPIDS, IA 52401

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235990 - Special Trade Contractors

Loan Approval Date

3/14/2003

Loan Approval Gross Amount

$110,500

Loan Approval from the SBA

Of the total $110,500 loan amount, the SBA guaranteed $93,925.

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 only one employee. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 $110,500 loan. Remember, you control your own destiny.

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.

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