Raising Money for Home Furnishing Merchant Wholesalers

With these business loans for home furnishing merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This home furnishing merchant wholesalers loan for $325,000 was given to an Iowa entrepreneur in 2007.

This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with First American Bank, out of Fort Myers, Florida. The loan was granted and they received $325,000 to help grow their Clive, Iowa business.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHING MERCHANT WHOLESALERS
CLIVE, IA 50325

SBA Loan Lender

FIRST AMERICAN BANK
12730 NEW BRITTANY BLVD
FORT MYERS, FL 33907

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

423220 - Home Furnishing Merchant Wholesalers

Loan Approval Date

3/19/2007

Loan Approval Gross Amount

$325,000

Loan Approval from the SBA

Of the total $325,000 loan amount, the SBA guaranteed $243,750.

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 11 employees. The SBA loan application for the borrower indicated that the loan would help retain 11 existing jobs.

Next Steps for Getting an SBA Loan

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Dealing With Venture Capitalists

Best Fort Myers, Florida Banks for Small Business

Getting an SBA Loan in Florida