How to Get a Loan for Appliance Repair and Maintenance

Looking for SBA loans for appliance repair and maintenance? Talk to a banker who works with the SBA. This $185,000 appliance repair and maintenance loan was issued by a Wisconsin bank.

This small business knew how to go about getting a business bank loan. Based in Monona, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Evergreen State Bank, based in Stoughton, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL AND ELECTRONIC REPAIR SHOPS
MONONA, WI 53716

SBA Loan Lender

EVERGREEN STATE BANK
207 S FORREST ST
STOUGHTON, WI 53589

This lender issued this SBA business loan under the 7A SBA program, 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.

SIC Code

7629 - Electrical and Electronic Repair Shops

NAICS Code

811412 - Appliance Repair and Maintenance

Loan Approval Date

8/28/2001

Loan Approval Gross Amount

$185,000

Loan Approval from the SBA

Of the total $185,000 loan amount, the SBA guaranteed $138,750.

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 9 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Financing Your Business

Find an SBA Lender in Stoughton, Wisconsin

SBA Participating Banks in Wisconsin