Used Merchandise Stores Commercial Loans

Looking for commercial loans for used merchandise stores? Talk to a banker who works with the SBA. This $83,900 used merchandise stores 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 State Central Bank, out of Keokuk, Iowa. The loan was granted and they received $83,900 to help grow their Keokuk, Iowa business.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
KEOKUK, IA 52632

SBA Loan Lender

STATE CENTRAL BANK
601 MAIN ST
KEOKUK, IA 52632

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

453310 - Used Merchandise Stores

Loan Approval Date

1/21/2005

Loan Approval Gross Amount

$83,900

Loan Approval from the SBA

Of the total $83,900 loan amount, the SBA guaranteed $71,315.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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:

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SBA 7A Banks for Keokuk, Iowa Loans

Iowa SBA Banks