Financing for Household Appliance Stores

With these commercial loans for household appliance stores, the SBA guarantees the lender that the loan will be repaid. This household appliance stores loan for $250,000 was given to an Ohio entrepreneur in 2000.

Getting a small business loan in Cincinnati, Ohio was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First Finan Bank, operating out of West Chester, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: DEPARTMENT STORES
CINCINNATI, OH 45224

SBA Loan Lender

FIRST FINAN BANK
7237 CINTI-DAYTON HWY
WEST CHESTER, OH 45069

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5311 - Department Stores

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

12/20/2000

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 11 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 Finan Bank 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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Where to Get an SBA Loan Ohio