Bank Loans for Used Merchandise Stores

With these bank loans for used merchandise stores, the SBA guarantees the lender that the loan will be repaid. This used merchandise stores loan for $105,000 was given to an Iowa entrepreneur in 2000.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of The West, out of Bloomfield, Iowa. The loan was granted and they received $105,000 to help grow their Bloomfield, Iowa business.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
BLOOMFIELD, IA 52537

SBA Loan Lender

BANK OF THE WEST
105 N WASHINGTON ST
BLOOMFIELD, IA 52537

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

11/17/2000

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $78,750.

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 only one employee. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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

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Who Lends Money to Small Businesses in Bloomfield, Iowa

Iowa SBA 7A Lenders