Getting an SBA Loan for Household Appliance Stores

Looking for business loans for household appliance stores? An SBA loan may be just what you've been looking for. This $137,000 household appliance stores loan was issued by a Texas bank.

This business knew how to go about getting a business bank loan. Based in Okeechobee, Florida, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Beal Bank, D/b/a Beal Bank, based in Plano, Texas.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
OKEECHOBEE, FL 34974

SBA Loan Lender

BEAL BANK, D/B/A BEAL BANK
6000 LEGACY DR
PLANO, TX 75024

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5722 - Household Appliance Stores

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

4/27/2000

Loan Approval Gross Amount

$137,000

Loan Approval from the SBA

Of the total $137,000 loan amount, the SBA guaranteed $102,750.

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 4 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Beal Bank, D/b/a Beal Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Getting a Small Business Loan

Where to Get an SBA Loan in Plano, Texas

Texas SBA Bank Lenders