Indiana Entrepreneur Secures Financing to Buy Norwalk Furniture Idea Franchise

Borrowing money to purchase a Norwalk Furniture Idea franchise? Star Financial Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Norwalk Furniture Idea franchise requires some effort but others before you have been successful. In 2005, Star Financial Bank issued an SBA franchise loan to an entrepreneur in Carmel, Indiana. Because Norwalk Furniture Idea was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis.

SBA Loan Borrower

NORWALK THE FURNITURE IDEA
CARMEL, IN 46033

SBA Loan Lender

STAR FINANCIAL BANK
127 W BERRY ST
FORT WAYNE, IN 46802

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

12/30/2005

Loan Approval Gross Amount

$258,000

Loan Approval from the SBA

Of the total $258,000 loan amount, the SBA guaranteed $129,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Norwalk Furniture Idea franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Star Financial Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Norwalk - The Furniture Idea

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SBA Approved Banks in Fort Wayne, Indiana

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