Commercial Loans for Consumer Electronics and Appliances Rental

Looking for commercial loans for consumer electronics and appliances rental? The SBA may be the answer. This $125,000 consumer electronics and appliances rental loan was issued by a Minnesota bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with North Shore Bank Of Commerce, out of Duluth, Minnesota. The loan was granted and they received $125,000 to help grow their Duluth, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: EQUIPMENT RENTAL AND LEASING
DULUTH, MN 55812

SBA Loan Lender

NORTH SHORE BANK OF COMMERCE
131 W SUPERIOR ST
DULUTH, MN 55802

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7359 - Equipment Rental and Leasing

NAICS Code

532210 - Consumer Electronics and Appliances Rental

Loan Approval Date

11/21/2001

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from North Shore Bank Of Commerce so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Getting a Small Business Loan

Banks in Duluth, Minnesota

Minnesota SBA 7A Banks