Loans for Commercial Equipment Wholesalers

With these loans for commercial equipment wholesalers, the SBA guarantees the lender that the loan will be repaid. This commercial equipment wholesalers loan for $60,000 was given to an Iowa entrepreneur in 2002.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Laurens State Bank, out of Laurens, Iowa. The loan was granted and they received $60,000 to help grow their Emmetsburg, Iowa business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL EQUIPMENT WHOLESALERS
EMMETSBURG, IA 50536

SBA Loan Lender

LAURENS STATE BANK
102 S 3RD ST
LAURENS, IA 50554

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421440 - Commercial Equipment Wholesalers

Loan Approval Date

11/27/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 3 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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Iowa SBA 7A Banks