Raising Money for Home Furnishings Stores

With these business loans for home furnishings stores, the SBA guarantees the lender that the loan will be repaid. This home furnishings stores loan for $50,000 was given to an Indiana entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Galveston, Indiana was able to borrow $50,000 from Harris National Association. The SBA made the loan possible by guaranteeing $42,500 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS STORES
GALVESTON, IN 46932

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
101 W SYCAMORE ST
KOKOMO, IN 46904

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5719 - Homefurnishings Stores

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

12/18/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company planned to use the loan proceeds 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Small Business Loan

SBA Participating Banks in Kokomo, Indiana

Indiana SBA 7A Lenders