Financing for Furniture Stores

With these commercial loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $480,000 was given to a Texas entrepreneur in 2007.

Getting a small business loan in Austin, Texas was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First State Bank Central Texas, operating out of Austin, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
AUSTIN, TX 78745

SBA Loan Lender

FIRST STATE BANK CENTRAL TEXAS
6500 N MOPAC, STE 1101
AUSTIN, TX 78731

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5712 - Furniture Stores

NAICS Code

442110 - Furniture Stores

Loan Approval Date

3/23/2007

Loan Approval Gross Amount

$480,000

Loan Approval from the SBA

Of the total $480,000 loan amount, the SBA guaranteed $360,000.

More Information on This SBA Loan

The borrower 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 21 employees. The SBA loan application for the borrower did not indicate that the company 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 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First State Bank Central Texas had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First State Bank Central Texas made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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