Commercial Loans 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 $200,000 was given to a Maine entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Bath Savings Institution, out of Bath, Maine. The loan was granted and they received $200,000 to help grow their Bath, Maine business.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
BATH, ME 04210

SBA Loan Lender

BATH SAVINGS INSTITUTION
105 FRONT ST
BATH, ME 04530

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

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

3/5/2002

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Bath ME, you ought to talk with a local Bath SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bath businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Obtaining Funding From a Venture Capitalist

SBA Participating Banks in Bath, Maine

SBA Lenders in Maine