Raising Money for Household Appliance Stores

With these business loans for household appliance stores, the SBA guarantees the lender that the loan will be repaid. This household appliance stores loan for $442,000 was given to a Florida entrepreneur in 2000.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Merrill Lynch Bank Usa, out of Salt Lake City, Utah. The loan was granted and they received $442,000 to help grow their Marathon, Florida business.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
MARATHON, FL 33050

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

This business 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.

SIC Code

5722 - Household Appliance Stores

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

4/20/2000

Loan Approval Gross Amount

$442,000

Loan Approval from the SBA

Of the total $442,000 loan amount, the SBA guaranteed $331,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 6 employees. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

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 Merrill Lynch Bank Usa 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.

Related Links:

Find Start-Up Capital

Find an SBA Lender in Salt Lake City, Utah

Utah SBA 7A Banks