Financing for Household Appliance Stores

With these commercial loans for household appliance stores, the SBA guarantees the lender that the loan will be repaid. This household appliance stores loan for $140,200 was given to a Texas entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Odessa, Texas was able to borrow $140,200 from Southwest Bank. The SBA made the loan possible by guaranteeing $119,170 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
ODESSA, TX 79761

SBA Loan Lender

SOUTHWEST BANK
4800 E 42ND ST
ODESSA, TX 79762

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

12/7/2006

Loan Approval Gross Amount

$140,200

Loan Approval from the SBA

Of the total $140,200 loan amount, the SBA guaranteed $119,170.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 6 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Southwest Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Southwest 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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