Main Street Registry

Dig N It Drilling LLC

Cumming, IA · All Other Specialty Trade Contractors · NAICS 238990

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

$3,250,000 approvedLender: Truliant FCU10 years termStatus not reported (SBA exemption)Loan details
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