How to Get a Loan for Appliance Repair and Maintenance

Looking for commercial loans for appliance repair and maintenance? An SBA loan may be just what you've been looking for. This $98,000 appliance repair and maintenance loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Victor, New York was able to borrow $98,000 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $49,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: APPLIANCE REPAIR AND MAINTENANCE
VICTOR, NY 14564

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

811412 - Appliance Repair and Maintenance

Loan Approval Date

2/27/2002

Loan Approval Gross Amount

$98,000

Loan Approval from the SBA

Of the total $98,000 loan amount, the SBA guaranteed $49,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 4 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Jpmorgan Chase Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Jpmorgan Chase Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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