Where to Get Capital for Furniture Stores

Looking for small business loans for furniture stores? Try the SBA. This $138,000 furniture stores loan was issued by a North Dakota bank.

This company knew how to go about getting a business bank loan. Based in Fargo, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was First Internatl Bank & Tr, based in Fargo, North Dakota.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
FARGO, ND 58103

SBA Loan Lender

FIRST INTERNATL BANK & TR
3101 N BROADWAY
FARGO, ND 58102

This 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.

SIC Code

5712 - Furniture Stores

NAICS Code

442110 - Furniture Stores

Loan Approval Date

10/18/2002

Loan Approval Gross Amount

$138,000

Loan Approval from the SBA

Of the total $138,000 loan amount, the SBA guaranteed $103,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Internatl Bank & Tr had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Internatl Bank & Tr 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:

Bank Credit Lines

SBA Banks in Fargo, North Dakota

Getting an SBA Loan in North Dakota