Getting an SBA Loan for Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment

With these commercial loans for electrical apparatus and equipment, wiring supplies, and related equipment, the SBA guarantees the lender that the loan will be repaid. This electrical apparatus and equipment, wiring supplies, and related equipment loan for $28,000 was given to a Florida entrepreneur in 2006.

Soma International Corp 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 Citibank, based in San Francisco, California.

SBA Loan Borrower

SOMA INTERNATIONAL CORP
15200 WEST AVENUE APT 624
MIAMI, FL 33139

SBA Loan Lender

CITIBANK
ONE SANSOME ST
SAN FRANCISCO, CA 94104

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

423610 - Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment

Loan Approval Date

8/31/2006

Loan Approval Gross Amount

$28,000

Loan Approval from the SBA

Of the total $28,000 loan amount, the SBA guaranteed $14,000.

More Information on This SBA Loan

The borrower, Soma International Corp, 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 only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

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. If a firm like Soma International Corp is able to get a $28,000 loan, 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 SBA loan database.

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