Business Loans for Household Appliance Stores

Looking for business loans for household appliance stores? An SBA loan may be just what you've been looking for. This $70,000 household appliance stores loan was issued by a Tennessee bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clarksville, Tennessee was able to borrow $70,000 from Cumberland Bank & Trust. The SBA made the loan possible by guaranteeing $35,000 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
CLARKSVILLE, TN 37040

SBA Loan Lender

CUMBERLAND BANK & TRUST
2034 WILMA RUDOLPH BLVD
CLARKSVILLE, TN 37040

The lender provided this small 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

10/25/2006

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $35,000.

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 4 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $70,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Business Cash Advances

Best Clarksville, Tennessee Banks for Small Business

Getting a Business Loan in Tennessee