Getting an SBA Loan for Hobby, Toy, and Game Stores

Looking for commercial loans for hobby, toy, and game stores? Try the SBA. This $30,000 hobby, toy, and game stores loan was issued by an Iowa bank.

Getting a small business loan in Spencer, Iowa was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Farmers Trust And Savings Bank, operating out of Spencer, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: HOBBY, TOY, AND GAME STORES
SPENCER, IA 51301

SBA Loan Lender

FARMERS TRUST AND SAVINGS BANK
125 W 4TH ST
SPENCER, IA 51301

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

4/2/2003

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Getting a Small Business Loan

Best Banks for Small Business in Spencer, Iowa

Iowa SBA 7A Lenders