Loan to Buy Radio Shack Franchise Issued By Western Bank

Borrowing money to invest in a Radio Shack franchise? Western Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Radio Shack franchise? If so, here's a 2004 SBA franchise loan that you should know about. Western Bank was the lender and the entrepreneur was based in Artesia, New Mexico.

SBA Loan Borrower

TERRY'S ELECTRONICS & HOME CEN
ARTESIA, NM 88210

SBA Loan Lender

WESTERN BANK
320 W TEXAS
ARTESIA, NM 88210

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

4/29/2004

Loan Approval Gross Amount

$487,600

Loan Approval from the SBA

Of the total $487,600 loan amount, the SBA guaranteed $365,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Radio Shack franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Western Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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