Borrowing Money for Furniture Stores

With these small business loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $1,533,000 was given to an Iowa entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in Des Moines, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Fidelity Bank, based in West Des Moines, Iowa.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
DES MOINES, IA 50322

SBA Loan Lender

FIDELITY BANK
177 S JORDAN CREEK PKWY
WEST DES MOINES, IA 50266

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

10/27/2005

Loan Approval Gross Amount

$1,533,000

Loan Approval from the SBA

Of the total $1,533,000 loan amount, the SBA guaranteed $1,149,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Fidelity Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Getting a Small Business Loan

Where to Get an SBA Loan in West Des Moines, Iowa

Getting an SBA Loan in Iowa