Getting an SBA Loan for Hardware Wholesalers

Looking for business loans for hardware wholesalers? The SBA may be the answer. This $225,000 hardware wholesalers loan was issued by an Iowa bank.

This business knew how to go about getting a business bank loan. Based in Johnston, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Charter Bank, based in Johnston, Iowa.

SBA Loan Borrower

COMPANY TYPE: HARDWARE
JOHNSTON, IA 50131

SBA Loan Lender

CHARTER BANK
5526 NW 86TH ST
JOHNSTON, IA 50131

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5072 - Hardware

NAICS Code

421710 - Hardware Wholesalers

Loan Approval Date

10/19/2000

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Charter Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Business Credit Evaluation

SBA 7A Lenders in Johnston, Iowa

Getting an SBA Loan in Iowa