How to Get a Loan for Furniture Stores

With these SBA loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $276,215 was given to a Mississippi entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jackson, Mississippi was able to borrow $276,215 from First Commercial Bank. The SBA made the loan possible by guaranteeing $207,161 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
JACKSON, MS 39216

SBA Loan Lender

FIRST COMMERCIAL BANK
1300 MEADOW BROOK RD
JACKSON, MS 39211

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

9/20/2006

Loan Approval Gross Amount

$276,215

Loan Approval from the SBA

Of the total $276,215 loan amount, the SBA guaranteed $207,161.

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 10 employees. The loan application did not indicate that the SBA funding recipient promised 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?

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Commercial Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Commercial Bank 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:

Role of Business Plan When Raising Money

SBA 7A Banks for Jackson, Mississippi Loans

SBA Mississippi Lenders