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December 22, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Panama City Beach, Business Loans > Business Loan Center, LLC Panama City Beach Business Loans > Home Furnishings Stores Loan | ||||
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Kentucky Small Business Funding
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How to Get a Loan for Home Furnishings StoresWith these SBA loans for home furnishings stores, the SBA guarantees the lender that the loan will be repaid. This home furnishings stores loan for $25,000 was given to a Kentucky entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Georgetown, Kentucky was able to borrow $25,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $21,250 of this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: HOME FURNISHINGS STORES SBA Loan Lender BUSINESS LOAN CENTER, LLC The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA 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. NAICS Code 442299 - Home Furnishings Stores Loan Approval Date 11/16/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Find an SBA Lender in Panama City Beach, Florida
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