Household Appliance Stores Bank Loans

With these bank loans for household appliance stores, the SBA guarantees the lender that the loan will be repaid. This household appliance stores loan for $225,000 was given to a Texas entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mcallen, Texas was able to borrow $225,000 from Border Cap. Bank. The SBA made the loan possible by guaranteeing $168,750 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
MCALLEN, TX 78504

SBA Loan Lender

BORDER CAP. BANK
1801 S MCCOLL RD
MCALLEN, TX 78503

This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and a thorough understanding of SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

8/26/2003

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 9 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees 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.

We can help you find the best banks for small businesses in Mcallen or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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