Getting an SBA Loan for Electrical Appliance, Television, and Radio Set Wholesalers

With these commercial loans for electrical appliance, television, and radio set wholesalers, the SBA guarantees the lender that the loan will be repaid. This electrical appliance, television, and radio set wholesalers loan for $210,000 was given to a Massachusetts entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Allston, Massachusetts was able to borrow $210,000 from Mercantile Bank & Trust. The SBA made the loan possible by guaranteeing $157,500 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL APPLIANCES, TELEVISION AND RADIO SETS
ALLSTON, MA 02134

SBA Loan Lender

MERCANTILE BANK & TRUST
61 BROOKLINE AVE
BOSTON, MA 02215

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5064 - Electrical Appliances, Television and Radio Sets

NAICS Code

421620 - Electrical Appliance, Television, and Radio Set Wholesalers

Loan Approval Date

7/26/2002

Loan Approval Gross Amount

$210,000

Loan Approval from the SBA

Of the total $210,000 loan amount, the SBA guaranteed $157,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Mercantile Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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