Where to Get Capital for Grocery and Related Products Merchant Wholesalers

With these small business loans for grocery and related products merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This grocery and related products merchant wholesalers loan for $37,600 was given to an Iowa entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in Traer, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Farmers Savings Bank & Trust-Tra, based in Traer, Iowa.

SBA Loan Borrower

COMPANY TYPE: GROCERY AND RELATED PRODUCTS MERCHANT WHOLESALERS
TRAER, IA 50675

SBA Loan Lender

FARMERS SAVINGS BANK & TRUST-TRA
611 2ND ST
TRAER, IA 50675

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424490 - Grocery and Related Products Merchant Wholesalers

Loan Approval Date

5/6/2003

Loan Approval Gross Amount

$37,600

Loan Approval from the SBA

Of the total $37,600 loan amount, the SBA guaranteed $31,960.

More Information on This SBA Loan

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

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 Farmers Savings Bank & Trust-Tra 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.

Related Links:

Borrowing Money from Friends and Family

SBA Approved Banks in Traer, Iowa

Where to Get an SBA Loan Iowa