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 $100,000 was given to an Utah entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ogden, Utah was able to borrow $100,000 from Bank Of American Fork. The SBA made the loan possible by guaranteeing $85,000 of this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
OGDEN, UT 84405

SBA Loan Lender

BANK OF AMERICAN FORK
33 E MAIN
AMERICAN FORK, UT 84003

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

10/5/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of American Fork that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Credit Evaluation

Find an SBA Lender in American Fork, Utah

Where to Get an SBA Loan Utah