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 a Missouri entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Southern Missouri Bank & Trust., out of Poplar Bluff, Missouri. The loan was granted and they received $100,000 to help grow their Poplar Bluf, Missouri business.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
POPLAR BLUF, MO 63901

SBA Loan Lender

SOUTHERN MISSOURI BANK & TRUST.
531 VINE ST
POPLAR BLUFF, MO 63901

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.

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

4/17/2002

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 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 3 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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