Raising Money for Consumer Electronics and Appliances Rental

Looking for business loans for consumer electronics and appliances rental? An SBA loan may be just what you've been looking for. This $450,000 consumer electronics and appliances rental loan was issued by an Illinois bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mchenry, Illinois was able to borrow $450,000 from Home St. Bank/natl Association. The SBA made the loan possible by guaranteeing $337,500 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSUMER ELECTRONICS AND APPLIANCES RENTAL
MCHENRY, IL 60050

SBA Loan Lender

HOME ST. BANK/NATL ASSOCIATION
40 GRANT ST
CRYSTAL LAKE, IL 60014

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532210 - Consumer Electronics and Appliances Rental

Loan Approval Date

7/11/2001

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 11 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 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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