Borrowing Money for Reupholstery and Furniture Repair

With these bank loans for reupholstery and furniture repair, the SBA guarantees the lender that the loan will be repaid. This reupholstery and furniture repair loan for $156,800 was given to an Ohio entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Columbus, Ohio was able to borrow $156,800 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $78,400 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: REUPHOLSTERY AND FURNITURE REPAIR
COLUMBUS, OH 43229

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

811420 - Reupholstery and Furniture Repair

Loan Approval Date

9/30/2002

Loan Approval Gross Amount

$156,800

Loan Approval from the SBA

Of the total $156,800 loan amount, the SBA guaranteed $78,400.

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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

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

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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $156,800 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

SBIR Funding

Small Bank Loans in Columbus, Ohio

SBA Ohio Banks