Raising Money for Furniture Stores

Looking for bank loans for furniture stores? The SBA may be the answer. This $718,000 furniture stores loan was issued by a Colorado bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Broomfield, Colorado was able to borrow $718,000 from United Western Bank. The SBA made the loan possible by guaranteeing $538,500 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
BROOMFIELD, CO 80030

SBA Loan Lender

UNITED WESTERN BANK
700 17TH ST, STE 100
DENVER, CO 80202

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to American small businesses.

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

2/1/2001

Loan Approval Gross Amount

$718,000

Loan Approval from the SBA

Of the total $718,000 loan amount, the SBA guaranteed $538,500.

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 22 employees. The loan application did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Equity Financing

Small Bank Loans in Denver, Colorado

Where to Get an SBA Loan Colorado