Ironwood Equity Corp.
Ironwood Equity Corp. is a business in Cedar Rapids, Iowa, in the industry of commercial and industrial machinery and equipment repair and maintenance (NAICS 811310), and it operates as a Pirtek franchise. The company was financed with an SBA 7(a) loan for a change of ownership of $990,000 from The Fidelity Bank, approved on May 17, 2026.
SBA 7(a) loan, change of ownership, approved May 17, 2026
$990,000 approvedLender: The Fidelity Bank205 months termStatus not reported (SBA exemption)Loan details
- Gross approval
- $990,000
- SBA-guaranteed amount
- $742,500 (75% of the approval)
- Lender
- The Fidelity Bank, Fuquay Varina, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 17 years, 1 month (205 months)
- Estimated maturity
- June 17, 2043 (estimated, approval date plus term)
- Estimated monthly payment
- $9,780 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 4, 2026
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 14
- Business type
- Corporation
- NAICS
- 811310, Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
- Franchise
- Pirtek
- Project location
- Linn County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 34% of acquisition loans in Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance on this site.
- Average acquisition loan in Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance: $1,576,060.
- 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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