Financing for Household Appliance Stores

With these loans for household appliance stores, the SBA guarantees the lender that the loan will be repaid. This household appliance stores loan for $1,228,500 was given to a New Mexico entrepreneur in 2004.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First National Bank Of Arizona, out of Scottsdale, Arizona. The loan was granted and they received $1,228,500 to help grow their Albuquerque, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
ALBUQUERQUE, NM 87122

SBA Loan Lender

FIRST NATIONAL BANK OF ARIZONA
17600 N PERIMETER DR
SCOTTSDALE, AZ 85255

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

9/27/2004

Loan Approval Gross Amount

$1,228,500

Loan Approval from the SBA

Of the total $1,228,500 loan amount, the SBA guaranteed $921,375.

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 31 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 32 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First National Bank Of Arizona and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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