SBA Loans for Household Appliance Stores

With these SBA 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 Texas entrepreneur in 2001.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with 1st National Bank - Chillico, out of Quanah, Texas. The loan was granted and they received $100,000 to help grow their Quanah, Texas business.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
QUANAH, TX 79252

SBA Loan Lender

1ST NATIONAL BANK - CHILLICO
111 W FOURTH
QUANAH, TX 79252

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

8/7/2001

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. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Financing Your Business

Banks in Quanah, Texas

Texas SBA 7A Banks