Getting an SBA Loan for Reupholstery and Furniture Repair

With these commercial loans for reupholstery and furniture repair, the SBA guarantees the lender that the loan will be repaid. This reupholstery and furniture repair loan for $12,500 was given to an Iowa entrepreneur in 2005.

Getting a small business loan in Bloomfield, Iowa was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Hedrick Savings Bank, operating out of Ottumwa, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: REUPHOLSTERY AND FURNITURE REPAIR
BLOOMFIELD, IA 52537

SBA Loan Lender

HEDRICK SAVINGS BANK
216 S MARKET ST
OTTUMWA, IA 52501

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811420 - Reupholstery and Furniture Repair

Loan Approval Date

9/29/2005

Loan Approval Gross Amount

$12,500

Loan Approval from the SBA

Of the total $12,500 loan amount, the SBA guaranteed $10,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This SBA loan was for $12,500. How would you spend $12,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Advice on Getting a Small Business Loan

SBA Banks in Ottumwa, Iowa

SBA Iowa Lenders