Business Loans for Household Appliance Stores

With these business loans for household appliance stores, the SBA guarantees the lender that the loan will be repaid. This household appliance stores loan for $63,800 was given to an Ohio entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Akron, Ohio was able to borrow $63,800 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $31,900 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
AKRON, OH 44333

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

4/8/2004

Loan Approval Gross Amount

$63,800

Loan Approval from the SBA

Of the total $63,800 loan amount, the SBA guaranteed $31,900.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Strategic Investors

Find an SBA Lender in Columbus, Ohio

SBA Lenders in Ohio