How to Get a Loan for Household Appliance Stores

With these SBA loans for household appliance stores, the SBA guarantees the lender that the loan will be repaid. This household appliance stores loan for $89,000 was given to an Iowa entrepreneur in 2003.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Community Savings Bank, out of Cedar Rapids, Iowa. The loan was granted and they received $89,000 to help grow their Cedar Rapids, Iowa business.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
CEDAR RAPIDS, IA 52404

SBA Loan Lender

COMMUNITY SAVINGS BANK
3414 MT. VERNON RD SE
CEDAR RAPIDS, IA 52403

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

3/3/2003

Loan Approval Gross Amount

$89,000

Loan Approval from the SBA

Of the total $89,000 loan amount, the SBA guaranteed $75,650.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Cedar Rapids 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.

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How to Get a Loan for Household Appliance Stores