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May 5, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Stuart, Business Loans > First State Bank Stuart Business Loans > Community Lumber And Service C Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Borrow Money to Buy a Radio Shack FranchiseBorrowing money to buy a Radio Shack franchise? First State 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 2000, First State Bank issued an SBA franchise loan to an entrepreneur in Stuart, 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 COMMUNITY LUMBER AND SERVICE C SBA Loan Lender FIRST STATE BANK This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5211 - Lumber and Other Building Materials Dealer Loan Approval Date 3/27/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Radio Shack franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. We can help you find the best banks for small businesses in Stuart or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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:
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