How to Get a Loan for Appliance Repair and Maintenance

With these business loans for appliance repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This appliance repair and maintenance loan for $51,500 was given to a Nebraska entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hartington, Nebraska was able to borrow $51,500 from Cortrust Bank. The SBA made the loan possible by guaranteeing $43,775 of this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: APPLIANCE REPAIR AND MAINTENANCE
HARTINGTON, NE 68739

SBA Loan Lender

CORTRUST BANK
100 E HAVENS & MAIN
MITCHELL, SD 57301

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.

NAICS Code

811412 - Appliance Repair and Maintenance

Loan Approval Date

10/25/2006

Loan Approval Gross Amount

$51,500

Loan Approval from the SBA

Of the total $51,500 loan amount, the SBA guaranteed $43,775.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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