Store Retailers Commercial Loans

Looking for commercial loans for store retailers? The SBA may be the answer. This $201,200 store retailers loan was issued by an Iowa bank.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Iowa St. Bank & Trust, out of Iowa City, Iowa. The loan was granted and they received $201,200 to help grow their Iowa City, Iowa business.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
IOWA CITY, IA 52240

SBA Loan Lender

IOWA ST. BANK & TRUST
102 S CLINTON ST
IOWA CITY, IA 52240

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

453998 - Store Retailers

Loan Approval Date

2/11/2005

Loan Approval Gross Amount

$201,200

Loan Approval from the SBA

Of the total $201,200 loan amount, the SBA guaranteed $100,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 7 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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Banks in Iowa City, Iowa

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