Loans for Furniture Stores

With these loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $55,000 was given to a Mississippi entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Southbank, F.S.B., out of Huntsville, Alabama. The loan was granted and they received $55,000 to help grow their Jackson, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
JACKSON, MS 39211

SBA Loan Lender

SOUTHBANK, F.S.B.
118 JEFFERSON ST
HUNTSVILLE, AL 35801

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

4/23/2003

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

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 loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $55,000 loan. Remember, if it to be, it is up to me!

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:

Family and Friend Investors - Your First Financiers

SBA Banks in Huntsville, Alabama

SBA Alabama Lenders