Business Loans for Specialty Food Stores

With these business loans for specialty food stores, the SBA guarantees the lender that the loan will be repaid. This specialty food stores loan for $149,600 was given to an Iowa entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Coralville, Iowa was able to borrow $149,600 from Farmers & Merchants Savings Bk. The SBA made the loan possible by guaranteeing $127,160 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
CORALVILLE, IA 52241

SBA Loan Lender

FARMERS & MERCHANTS SAVINGS BK
2235 MORMON TREK BLVD
IOWA CITY, IA 52246

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

5/5/2006

Loan Approval Gross Amount

$149,600

Loan Approval from the SBA

Of the total $149,600 loan amount, the SBA guaranteed $127,160.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help generate 6 new jobs.

Next Steps for Getting an SBA Loan

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Farmers & Merchants Savings Bk are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Direct Public Offerings

SBA 7A Banks in Iowa City, Iowa

Getting an SBA Loan in Iowa