United Bank Of Iowa Provides SBA Loan to Buy Dollar Discount Stores Franchise

Need money to buy a Dollar Discount Stores franchise? United Bank Of Iowa has a history of making these loans and they are guaranteed by the SBA.

Dollar Discount Stores franchise loans are available to Ida Grove, Iowa entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, United Bank Of Iowa, based in Ida Grove, Iowa, issued an SBA franchise loan for a Dollar Discount Stores franchise in 2003. We've got all the details on this Iowa small business loan.

SBA Loan Borrower

LYNN W & CARLENE R HAMANN
IDA GROVE, IA 51445

SBA Loan Lender

UNITED BANK OF IOWA
501 2ND ST
IDA GROVE, IA 51445

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

5/14/2003

Loan Approval Gross Amount

$110,400

Loan Approval from the SBA

Of the total $110,400 loan amount, the SBA guaranteed $93,840.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dollar Discount Stores franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

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

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:

Dollar Discount

Financing Your Business

SBA Approved Banks in Ida Grove, Iowa

Iowa SBA 7A Lenders