How to Get a Loan for Home Furnishings Stores

Looking for SBA loans for home furnishings stores? An SBA loan may be just what you've been looking for. This $60,000 home furnishings stores loan was issued by a Texas bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with 1st National Bank - Sterling City, out of Sterling City, Texas. The loan was granted and they received $60,000 to help grow their Fredericksburg, Texas business.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
FREDERICKSBURG, TX 78624

SBA Loan Lender

1ST NATIONAL BANK - STERLING CITY
602 4TH ST
STERLING CITY, TX 76951

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

3/6/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

The Friends and Family Network

SBA Participating Banks in Sterling City, Texas

Where to Get an SBA Loan Texas