Sterling Bank Provides SBA Loan to Buy Norwalk Furniture Idea Franchise

Borrowing money to invest in a Norwalk Furniture Idea franchise? Sterling Bank has a history of making these loans and they are guaranteed by the SBA.

Norwalk Furniture Idea franchise loans are available to Houston, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Sterling Bank, based in Houston, Texas, issued an SBA franchise loan for a Norwalk Furniture Idea franchise in 2000. We've got all the details on this Texas small business loan.

SBA Loan Borrower

NORWALK - THE FURNITURE IDEA
HOUSTON, TX 77090

SBA Loan Lender

STERLING BANK
2550 N LOOP WEST
HOUSTON, TX 77092

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

337121 - Upholstered Household Furniture Manufacturing

Loan Approval Date

11/17/2000

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Norwalk Furniture Idea franchise. At the time of the loan, the company had 50 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $550,000. How would you spend $550,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Norwalk - The Furniture Idea

Accountant's Role in Securing Financing

Banks in Houston, Texas

Texas SBA 7A Banks