Borrow Money to Buy a Sears Catalog Store Franchise

Need a loan to buy a Sears Catalog Store franchise? Iowa Trust & Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sears Catalog Store franchise shouldn't be too tough. In 2005, Iowa Trust & Savings Bank issued an SBA franchise loan to an entrepreneur in Spencer, Iowa. Because Sears Catalog Store was registered with the SBA's registry of franchises, this Iowa small business loan was issued on an expedited basis.

SBA Loan Borrower

SPENCER SEARS STORE
SPENCER, IA 51301

SBA Loan Lender

IOWA TRUST & SAVINGS BANK
2101 10TH ST
EMMETSBURG, IA 50536

This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

452111 - Department Stores

Loan Approval Date

6/14/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sears Catalog Store franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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Iowa SBA 7A Lenders