Business Loans for Furniture Stores

With these business loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $55,000 was given to an Illinois entrepreneur in 2000.

Getting a small business loan in Crystal Lake, Illinois was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Home St. Bank/natl Association, operating out of Crystal Lake, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS STORES
CRYSTAL LAKE, IL 60014

SBA Loan Lender

HOME ST. BANK/NATL ASSOCIATION
40 GRANT ST
CRYSTAL LAKE, IL 60014

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5719 - Homefurnishings Stores

NAICS Code

442110 - Furniture Stores

Loan Approval Date

8/10/2000

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $44,000.

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 12 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Crystal Lake or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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