Getting an SBA Loan for Electrical and Electronic Appliance, Television, and Radio Sets

With these commercial loans for electrical and electronic appliance, television, and radio sets, the SBA guarantees the lender that the loan will be repaid. This electrical and electronic appliance, television, and radio sets loan for $50,000 was given to an Ohio entrepreneur in 2005.

Getting a small business loan in Milford, Ohio was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Center Bank, operating out of Los Angeles, California. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL AND ELECTRONIC APPLIANCE, TELEVISION, AND RADIO SETS
MILFORD, OH 45150

SBA Loan Lender

CENTER BANK
3435 WILSHIRE BLVD, STE 700
LOS ANGELES, CA 90010

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

423620 - Electrical and Electronic Appliance, Television, and Radio Sets

Loan Approval Date

5/3/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Center Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Center Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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