Iowa Entrepreneur Secures Financing to Buy Radio Shack Franchise

Need a loan to invest in a Radio Shack franchise? Federation Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Radio Shack franchise is doable. In 2002, Federation Bank issued an SBA franchise loan to an entrepreneur in Wellman, Iowa. Because Radio Shack was registered with the SBA's registry of franchises, this Iowa small business loan was issued on an expedited basis.

SBA Loan Borrower

RADIO SHACK
WELLMAN, IA 52353

SBA Loan Lender

FEDERATION BANK
102 E MAIN ST
WASHINGTON, IA 52353

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

443112 - Radio, Television, and Electronics Stores

Loan Approval Date

7/15/2002

Loan Approval Gross Amount

$63,000

Loan Approval from the SBA

Of the total $63,000 loan amount, the SBA guaranteed $53,550.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Radio Shack franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Federation Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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