Home Furnishings Stores Loans

Looking for loans for home furnishings stores? Try the SBA. This $400,000 home furnishings stores loan was issued by a New York bank.

Getting a small business loan in Lynbrook, New York was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Loan Source Incorporated, operating out of New York, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
LYNBROOK, NY 11563

SBA Loan Lender

LOAN SOURCE INCORPORATED
347 5TH AVE., SUITE 301
NEW YORK, NY 10016

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

10/14/2004

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 13 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 13 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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

Small Business Loan

SBA Banks in New York, New York

SBA New York Lenders