St. Mary's Bank Provides SBA Loan to Buy Mr. Appliance Of Central Texas Franchise

Need money to buy a Mr. Appliance Of Central Texas franchise? St. Mary's Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mr. Appliance Of Central Texas franchise is doable. In 2007, St. Mary's Bank issued an SBA franchise loan to an entrepreneur in Manchester, New Hampshire. Because Mr. Appliance Of Central Texas was registered with the SBA's registry of franchises, this New Hampshire small business loan was issued on an expedited basis.

SBA Loan Borrower

MR APPLIANCE
MANCHESTER, NH 03104

SBA Loan Lender

ST. MARY'S BANK
200 MCGREGOR ST
MANCHESTER, NH 03102

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811412 - Appliance Repair and Maintenance

Loan Approval Date

11/21/2007

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mr. Appliance Of Central Texas franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

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 St. Mary's 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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