Loans for Office Furniture Manufacturing

Looking for loans for office furniture manufacturing? An SBA loan may be just what you've been looking for. This $135,700 office furniture manufacturing loan was issued by a Minnesota bank.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Landmark Commun Bank, out of Isanti, Minnesota. The loan was granted and they received $135,700 to help grow their Blaine, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: OFFICE FURNITURE MANUFACTURING
BLAINE, MN 55434

SBA Loan Lender

LANDMARK COMMUN BANK
29 W MAIN ST
ISANTI, MN 55040

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

337214 - Office Furniture Manufacturing

Loan Approval Date

6/19/2007

Loan Approval Gross Amount

$135,700

Loan Approval from the SBA

Of the total $135,700 loan amount, the SBA guaranteed $122,130.

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 19 employees. The SBA loan application for the borrower indicated that the loan would help retain 19 existing jobs.

Next Steps for Getting an SBA Loan

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.

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 Landmark Commun 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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