Getting an SBA Loan for Upholstered Household Furniture Manufacturing

Looking for commercial loans for upholstered household furniture manufacturing? Talk to a banker who works with the SBA. This $1,275,000 upholstered household furniture manufacturing loan was issued by a Pennsylvania bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Susquehanna Bank Pa, out of Lititz, Pennsylvania. The loan was granted and they received $1,275,000 to help grow their Hanover, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: UPHOLSTERED HOUSEHOLD FURNITURE MANUFACTURING
HANOVER, PA 17331

SBA Loan Lender

SUSQUEHANNA BANK PA
9 E MAIN ST
LITITZ, PA 17543

This lender provides SBA 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

337121 - Upholstered Household Furniture Manufacturing

Loan Approval Date

4/17/2003

Loan Approval Gross Amount

$1,275,000

Loan Approval from the SBA

Of the total $1,275,000 loan amount, the SBA guaranteed $956,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 41 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 41 existing jobs.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Susquehanna Bank Pa had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Susquehanna Bank Pa made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

How Equity Dilution Works

Small Business Banks in Lititz, Pennsylvania

Getting an SBA Loan in Pennsylvania