Financing for Home Furnishings Stores

Looking for commercial loans for home furnishings stores? Talk to a banker who works with the SBA. This $100,000 home furnishings stores loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in Minneapolis, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Associated Bank, based in Minneapolis, Minnesota.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
MINNEAPOLIS, MN 55401

SBA Loan Lender

ASSOCIATED BANK
740 MARQUETTE AVE
MINNEAPOLIS, MN 55402

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

9/4/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Associated Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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Best Minneapolis, Minnesota Banks for Small Business

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