Small Business Loans for Household Appliance Stores

With these small business loans for household appliance stores, the SBA guarantees the lender that the loan will be repaid. This household appliance stores loan for $150,000 was given to a Wisconsin entrepreneur in 2004.

This company knew how to go about getting a business bank loan. Based in Port Washington, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Natl Exch Bank & Tr, based in Fond Du Lac, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
PORT WASHINGTON, WI 53074

SBA Loan Lender

NATL EXCH BANK & TR
130 S MAIN ST
FOND DU LAC, WI 54935

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

5/17/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 Natl Exch Bank & Tr 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.

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