Home Furnishings Stores Small Business Loans

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 $100,000 was given to a Michigan entrepreneur in 2006.

Getting a small business loan in Coopersville, Michigan was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Chemical Bank, operating out of Midland, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
COOPERSVILLE, MI 49404

SBA Loan Lender

CHEMICAL BANK
333 E MAIN ST
MIDLAND, MI 48640

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

442299 - Home Furnishings Stores

Loan Approval Date

8/23/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Coopersville MI, you ought to talk with a local Coopersville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Coopersville businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Chemical Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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