SBA Loans for Hardware Stores

With these SBA loans for hardware stores, the SBA guarantees the lender that the loan will be repaid. This hardware stores loan for $59,000 was given to an Iowa entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Adair, Iowa was able to borrow $59,000 from Exchange State Bank. The SBA made the loan possible by guaranteeing $50,150 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
ADAIR, IA 50002

SBA Loan Lender

EXCHANGE STATE BANK
322 AUDUBON ST
ADAIR, IA 50002

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

10/29/2003

Loan Approval Gross Amount

$59,000

Loan Approval from the SBA

Of the total $59,000 loan amount, the SBA guaranteed $50,150.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Dealing With Venture Capitalists

Where to Get an SBA Loan in Adair, Iowa

Iowa SBA 7A Lenders