Raising Money for Nondurable Goods Wholesalers

Looking for business loans for nondurable goods wholesalers? An SBA loan may be just what you've been looking for. This $45,000 nondurable goods wholesalers loan was issued by an Iowa bank.

This small business knew how to go about getting a business bank loan. Based in Moline, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Northwest Bank & Trust Company, based in Davenport, Iowa.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS
MOLINE, IL 61265

SBA Loan Lender

NORTHWEST BANK & TRUST COMPANY
100 E KIMBERLY
DAVENPORT, IA 52806

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5199 - Nondurable Goods

NAICS Code

422990 - Nondurable Goods Wholesalers

Loan Approval Date

3/12/2002

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

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 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Moline or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Small Business Loan

Where to Get an SBA Loan in Davenport, Iowa

Iowa SBA 7A Banks