Iowa Entrepreneur Secures Financing to Buy Closet Tailors Franchise

Borrowing money to invest in a Closet Tailors franchise? Northwest Bank & Trust Company has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Davenport, Iowa needed money to invest in a Closet Tailors franchise back in 2007. Northwest Bank & Trust Company issued an SBA franchise loan. Here are the details on this Iowa small business loan.

SBA Loan Borrower

CLOSET TAILORS
DAVENPORT, IA 52807

SBA Loan Lender

NORTHWEST BANK & TRUST COMPANY
100 E KIMBERLY
DAVENPORT, IA 52806

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

236118 - Residential Remodelers

Loan Approval Date

4/20/2007

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Closet Tailors franchise. At the time of the loan, the company had no employees. The SBA loan documents indicated that the borrowed money would help create 1 new job.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Northwest Bank & Trust Company so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Strategic Investors

Small Bank Loans in Davenport, Iowa

Iowa SBA Banks