Electrical and Electronic Appliance, Television, and Radio Set Merchant Who Commercial Loans

With these commercial loans for electrical and electronic appliance, television, and radio set merchant who, the SBA guarantees the lender that the loan will be repaid. This electrical and electronic appliance, television, and radio set merchant who loan for $100,000 was given to a Florida entrepreneur in 2006.

Goodeals Inc knew how to go about getting a business bank loan. Based in Miami, Florida, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Banco Popular North America, based in New York City, New York.

SBA Loan Borrower

GOODEALS INC
2412 NW 72 AVE
MIAMI, FL 33122

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

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

423620 - Electrical and Electronic Appliance, Television, and Radio Set Merchant Who

Loan Approval Date

6/2/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

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

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.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this Goodeals Inc loan from Banco Popular North America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Microlending as a Small Business Funding Source

SBA Approved Banks in New York City, New York

New York SBA Banks

If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.