Prerecorded Tape, Compact Disc, and Record Stores Commercial Loans

With these commercial loans for prerecorded tape, compact disc, and record stores, the SBA guarantees the lender that the loan will be repaid. This prerecorded tape, compact disc, and record stores loan for $57,000 was given to an Iowa entrepreneur in 2005.

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

SBA Loan Borrower

COMPANY TYPE: PRERECORDED TAPE, COMPACT DISC, AND RECORD STORES
DES MOINES, IA 50317

SBA Loan Lender

VERIDIAN CU
1827 ANSBOROUGH AVE
WATERLOO, IA 50701

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451220 - Prerecorded Tape, Compact Disc, and Record Stores

Loan Approval Date

9/7/2005

Loan Approval Gross Amount

$57,000

Loan Approval from the SBA

Of the total $57,000 loan amount, the SBA guaranteed $48,450.

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 5 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $57,000 loan. Remember, if it to be, it is up to me!

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:

Bank Credit Lines

Banks in Waterloo, Iowa

SBA Lenders in Iowa