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December 30, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Fort Worth, Business Loans > Compass Bank Fort Worth Business Loans > Furniture Merchant Wholesalers Loan | ||||
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Raising Money in Addison, Texas With SBA Loans
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Commercial Loans for Furniture Merchant WholesalersLooking for commercial loans for furniture merchant wholesalers? Try the SBA. This $100,000 furniture merchant wholesalers loan was issued by a Texas bank. Getting a small business loan in Addison, Texas was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Compass Bank, operating out of Fort Worth, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: FURNITURE MERCHANT WHOLESALERS SBA Loan Lender COMPASS BANK This bank loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423210 - Furniture Merchant Wholesalers Loan Approval Date 11/22/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 7 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Compass Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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. Related Links:
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