Consumer Electronics and Appliances Rental Commercial Loans

Looking for commercial loans for consumer electronics and appliances rental? Talk to a banker who works with the SBA. This $500,000 consumer electronics and appliances rental loan was issued by a Rhode Island bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in N. Scituate, Massachusetts was able to borrow $500,000 from Washington Tr Co - Westerly. The SBA made the loan possible by guaranteeing $375,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS
N. SCITUATE, MA 02857

SBA Loan Lender

WASHINGTON TR CO - WESTERLY
180 WASHINGTON ST
PROVIDENCE, RI 02903

This lender issued this loan under the SBA's 7A loan, 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

7539 - Automotive Repair Shops

NAICS Code

532210 - Consumer Electronics and Appliances Rental

Loan Approval Date

5/24/2006

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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