Raising Money for Store Retailers

With these business loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $378,000 was given to an Iowa entrepreneur in 2004.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First Bank, out of West Des Moines, Iowa. The loan was granted and they received $378,000 to help grow their West Des Moines, Iowa business.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
WEST DES MOINES, IA 50265

SBA Loan Lender

FIRST BANK
301 5TH ST
WEST DES MOINES, IA 50265

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

4/27/2004

Loan Approval Gross Amount

$378,000

Loan Approval from the SBA

Of the total $378,000 loan amount, the SBA guaranteed $283,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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