Financing for Used Merchandise Stores

Looking for loans for used merchandise stores? Talk to a banker who works with the SBA. This $563,000 used merchandise stores loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lima, Ohio was able to borrow $563,000 from Newtek Small Business Finance Inc.. The SBA made the loan possible by guaranteeing $422,250 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
LIMA, OH 45805

SBA Loan Lender

NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

7/28/2004

Loan Approval Gross Amount

$563,000

Loan Approval from the SBA

Of the total $563,000 loan amount, the SBA guaranteed $422,250.

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 3 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $563,000. How would you spend $563,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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