Where to Get Capital for Institutional Furniture Manufacturing

With these SBA loans for institutional furniture manufacturing, the SBA guarantees the lender that the loan will be repaid. This institutional furniture manufacturing loan for $538,500 was given to a Kentucky entrepreneur in 2001.

This small business knew how to go about getting a business bank loan. Based in Glagow, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was South Cent. Bank - Barren County, based in Glasgow, Kentucky.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING INDUSTRIES
GLAGOW, KY 42141

SBA Loan Lender

SOUTH CENT. BANK - BARREN COUNTY
208 S BROADWAY
GLASGOW, KY 42141

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3999 - Manufacturing Industries

NAICS Code

337127 - Institutional Furniture Manufacturing

Loan Approval Date

6/21/2001

Loan Approval Gross Amount

$538,500

Loan Approval from the SBA

Of the total $538,500 loan amount, the SBA guaranteed $403,875.

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 20 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into South Cent. Bank - Barren County and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Business Line of Credit

SBA 7A Banks in Glasgow, Kentucky

Kentucky SBA 7A Lenders