Bishop Enterprises, Inc.
Bishop Enterprises, Inc. is located in Davenport, IA, and the SBA lists its industry as General Line Grocery Merchant Wholesalers. It was approved for an SBA 7(a) loan of $2,481,000 for a change of ownership on May 22, 2025.
SBA 7(a) loan, change of ownership, approved May 22, 2025
- Gross approval
- $2,481,000
- SBA-guaranteed amount
- $1,860,750 (75% of the approval)
- Lender
- T Bank, National Association, Dallas, TX
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 22, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $31,765 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 25, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 15
- Business type
- Corporation
- NAICS
- 424410, General Line Grocery Merchant Wholesalers
- Project location
- Scott County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 57% of acquisition loans in General Line Grocery Merchant Wholesalers on this site.
- Average acquisition loan in General Line Grocery Merchant Wholesalers: $2,118,293.
- Average acquisition loan in Iowa: $1,701,244.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
Is this your company? Claim or correct this listing. See Corrections.