Tennessee Entrepreneur Secures Financing to Buy Maytag Home Appliance Center Franchise

Need money to buy a Maytag Home Appliance Center franchise? Bankers Mortgage Co. has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Maytag Home Appliance Center franchise may simply require a phone call to a local SBA banker. In 2003, Bankers Mortgage Co. issued an SBA franchise loan to an entrepreneur in Union City, Tennessee. Because Maytag Home Appliance Center was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis.

SBA Loan Borrower

MAYTAG HOME APPLIANCE CENTER
UNION CITY, TN 38261

SBA Loan Lender

BANKERS MORTGAGE CO.
100 E REELFOOT AVE
UNION CITY, TN 38261

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5722 - Household Appliance Stores

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

6/20/2003

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Maytag Home Appliance Center franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $140,000. How would you spend $140,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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