How to Get a Loan for Electrical Appliance, Television, and Radio Set Wholesalers

Looking for commercial loans for electrical appliance, television, and radio set wholesalers? An SBA loan may be just what you've been looking for. This $506,000 electrical appliance, television, and radio set wholesalers loan was issued by a New Jersey bank.

This small business knew how to go about getting a business bank loan. Based in Sacramento, California, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Cit Small Business Lending Corp, based in Livingston, New Jersey.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL APPLIANCE, TELEVISION, AND RADIO SET WHOLESALERS
SACRAMENTO, CA 95815

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421620 - Electrical Appliance, Television, and Radio Set Wholesalers

Loan Approval Date

10/4/2004

Loan Approval Gross Amount

$506,000

Loan Approval from the SBA

Of the total $506,000 loan amount, the SBA guaranteed $379,500.

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 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your 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.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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