Getting an SBA Loan for Electrical and Electronic Appliance, Television, and Radio Sets

With these business loans for electrical and electronic appliance, television, and radio sets, the SBA guarantees the lender that the loan will be repaid. This electrical and electronic appliance, television, and radio sets loan for $500,000 was given to a California entrepreneur in 2007.

This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Premier Business Bank, out of Los Angeles, California. The loan was granted and they received $500,000 to help grow their Pasadena, California business.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL AND ELECTRONIC APPLIANCE, TELEVISION, AND RADIO SETS
PASADENA, CA 91107

SBA Loan Lender

PREMIER BUSINESS BANK
700 S FLOWER ST, STE 2000
LOS ANGELES, CA 90017

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423620 - Electrical and Electronic Appliance, Television, and Radio Sets

Loan Approval Date

11/28/2007

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $450,000.

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 5 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

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

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $500,000 loan. Remember, feel the fear, and do it anyway.

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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