Blc Community Bank Provides SBA Loan to Buy Furniture Medic Franchise

Need a loan to invest in a Furniture Medic franchise? Blc Community Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Furniture Medic franchise? If so, here's a 2003 SBA franchise loan that you should know about. Blc Community Bank was the lender and the entrepreneur was based in Appleton, Wisconsin.

SBA Loan Borrower

FURNITURE MEDIC
APPLETON, WI 54914

SBA Loan Lender

BLC COMMUNITY BANK
206 E MAIN ST
LITTLE CHUTE, WI 54140

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7641 - Reupholstery and Furniture Repair

NAICS Code

811420 - Reupholstery and Furniture Repair

Loan Approval Date

4/4/2003

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Furniture Medic franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Blc Community Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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