Borrow Money to Buy a Norwalk Furniture Idea Franchise

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

Want to borrow money to buy a Norwalk Furniture Idea franchise? If so, here's a 2004 SBA franchise loan that you should know about. First Century Bank was the lender and the entrepreneur was based in Knoxville, Tennessee.

SBA Loan Borrower

HEAVENLY CONCEPTS, LLC
KNOXVILLE, TN 37919

SBA Loan Lender

FIRST CENTURY BANK
600 EAST EMORY
POWELL, TN 37849

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5712 - Furniture Stores

NAICS Code

442110 - Furniture Stores

Loan Approval Date

9/24/2004

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 18 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Century Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Debt Financing

Small Business Banks in Powell, Tennessee

Getting an SBA Loan in Tennessee