Getting an SBA Loan for Radio, Television, and Electronics Stores

Looking for commercial loans for radio, television, and electronics stores? The SBA may be the answer. This $25,000 radio, television, and electronics stores loan was issued by a Massachusetts bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Berkshire Bank, out of Pittsfield, Massachusetts. The loan was granted and they received $25,000 to help grow their Stockbridge, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: RADIO AND TELEVISION REPAIR SHOPS
STOCKBRIDGE, MA 01262

SBA Loan Lender

BERKSHIRE BANK
24 NORTH ST
PITTSFIELD, MA 01201

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.

SIC Code

7622 - Radio and Television Repair Shops

NAICS Code

443112 - Radio, Television, and Electronics Stores

Loan Approval Date

6/16/2003

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Berkshire Bank 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.

Related Links:

Famous Venture Capitalists

SBA Participating Banks in Pittsfield, Massachusetts

Massachusetts SBA 7A Lenders