Getting an SBA Loan for Store Retailers

With these SBA loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $65,300 was given to an Iowa entrepreneur in 2005.

This business knew how to go about getting a business bank loan. Based in Waukee, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was First Bank, based in West Des Moines, Iowa.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
WAUKEE, IA 50263

SBA Loan Lender

FIRST BANK
5625 MILLS CIVIC PKWY
WEST DES MOINES, IA 50266

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

453998 - Store Retailers

Loan Approval Date

2/4/2005

Loan Approval Gross Amount

$65,300

Loan Approval from the SBA

Of the total $65,300 loan amount, the SBA guaranteed $55,505.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First 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:

Microlending as a Small Business Funding Source

SBA Participating Banks in West Des Moines, Iowa

Getting an SBA Loan in Iowa