Personal and Household Goods Repair and Maintenance Commercial Loans

Looking for commercial loans for personal and household goods repair and maintenance? The SBA may be the answer. This $140,000 personal and household goods repair and maintenance loan was issued by a bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hato Rey, was able to borrow $140,000 from Banco Bilbao Vizcaya Argentari. The SBA made the loan possible by guaranteeing $105,000 of this small business loan.

SBA Loan Borrower

COMPANY TYPE: WATCH, CLOCK, AND JEWELRY REPAIR
HATO REY, PR 00918

SBA Loan Lender

BANCO BILBAO VIZCAYA ARGENTARI
254 MUNOZ RIVERA AVE
SAN JUAN, PR 00936

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7631 - Watch, Clock, and Jewelry Repair

NAICS Code

811490 - Personal and Household Goods Repair and Maintenance

Loan Approval Date

7/31/2000

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $105,000.

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 planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

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 Banco Bilbao Vizcaya Argentari 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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