Dig N It Drilling LLC
Dig N It Drilling LLC is a business in Cumming, Iowa, in the All Other Specialty Trade Contractors industry (NAICS 238990). The company was financed with an SBA 7(a) loan for a change of ownership of $3.25 million, approved on February 12, 2025, through Truliant FCU.
SBA 7(a) loan, change of ownership, approved Feb 12, 2025
- Gross approval
- $3,250,000
- SBA-guaranteed amount
- $2,437,500 (75% of the approval)
- Lender
- Truliant FCU, Winston-Salem, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- February 12, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $42,500 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 18, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 12
- Business type
- Corporation
- NAICS
- 238990, All Other Specialty Trade Contractors
- Project location
- Madison County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 82% of acquisition loans in All Other Specialty Trade Contractors on this site.
- Average acquisition loan in All Other Specialty Trade Contractors: $1,899,024.
- Average acquisition loan in Iowa: $1,701,244.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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Same industry in Iowa
- Oak Meadow RE LLC, Ottumwa
- Beckstrom Construction, Elkhart
- Summit Strategic Partners LLC, West Des Moines