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December 21, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Jefferson, Business Loans > Peoples Trust & Savings Bank Jefferson Business Loans > Ben Franklin Store/radio Shack Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Borrow Money to Buy a Radio Shack FranchiseBorrowing money to purchase a Radio Shack franchise? Peoples Trust & Savings Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Jefferson, Iowa needed money to invest in a Radio Shack franchise back in 2005. Peoples Trust & Savings Bank issued an SBA franchise loan. Here are the details on this Iowa small business loan. SBA Loan Borrower BEN FRANKLIN STORE/RADIO SHACK SBA Loan Lender PEOPLES TRUST & SAVINGS BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811490 - Personal and Household Goods Repair and Maintenance Loan Approval Date 3/24/2005 Loan Approval Gross Amount $131,500 Loan Approval from the SBA Of the total $131,500 loan amount, the SBA guaranteed $111,775. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Radio Shack franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Peoples Trust & Savings Bank and they will explain how you can get an SBA loan for your company. 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:
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