Where to Get Capital for Home Furnishings Stores

With these small business loans for home furnishings stores, the SBA guarantees the lender that the loan will be repaid. This home furnishings stores loan for $129,550 was given to a Minnesota entrepreneur in 2005.

Getting a small business loan in Clear Lake, Minnesota was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Amer National Bank - Minnesota, operating out of Alexandria, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
CLEAR LAKE, MN 56301

SBA Loan Lender

AMER NATIONAL BANK - MINNESOTA
512 30TH AVE EAST
ALEXANDRIA, MN 56308

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

11/2/2005

Loan Approval Gross Amount

$129,550

Loan Approval from the SBA

Of the total $129,550 loan amount, the SBA guaranteed $110,118.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to find business people willing to loan money, 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 - How to Decide How Much to Raise

Where to Get an SBA Loan in Alexandria, Minnesota

SBA Minnesota Banks