Get an SBA Loan for Home Furnishings Stores

With these bank loans for home furnishings stores, the SBA guarantees the lender that the loan will be repaid. This home furnishings stores loan for $54,400 was given to a Texas entrepreneur in 2003.

Getting a small business loan in Crockett, Texas was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Citizens National Bank, operating out of Crockett, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
CROCKETT, TX 75835

SBA Loan Lender

CITIZENS NATIONAL BANK
1320 LOOP 304 EAST
CROCKETT, TX 75835

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

5/30/2003

Loan Approval Gross Amount

$54,400

Loan Approval from the SBA

Of the total $54,400 loan amount, the SBA guaranteed $46,240.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Debt Financing

Small Business Banks in Crockett, Texas

SBA Participating Banks in Texas