How to Get a Loan for Household Appliance Stores

Looking for business loans for household appliance stores? Talk to a banker who works with the SBA. This $75,000 household appliance stores loan was issued by an Ohio bank.

This small business knew how to go about getting a business bank loan. Based in St. Clair, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Rbs Citizens, based in Cleveland, Ohio.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
ST. CLAIR, MI 48079

SBA Loan Lender

RBS CITIZENS
1215 SUPERIOR AVE
CLEVELAND, OH 44114

The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

10/13/2004

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in St. Clair or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Obtaining Funding - How to Borrow Money

SBA 7A Banks in Cleveland, Ohio

Getting an SBA Loan in Ohio