Furniture Stores Small Business Loans

Looking for small business loans for furniture stores? An SBA loan may be just what you've been looking for. This $323,000 furniture stores loan was issued by a New Jersey bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Guilford (census Name For Guil, Connecticut was able to borrow $323,000 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $242,250 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
GUILFORD (CENSUS NAME FOR GUIL, CT 06437

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

7/20/2005

Loan Approval Gross Amount

$323,000

Loan Approval from the SBA

Of the total $323,000 loan amount, the SBA guaranteed $242,250.

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 8 employees. The loan application indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Cit Small Business Lending Corp 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:

Dealing With Venture Capitalists

SBA 7A Banks in Livingston, New Jersey

Where to Get an SBA Loan New Jersey