Home Furnishings Stores Commercial Loans

Looking for commercial loans for home furnishings stores? Try the SBA. This $120,000 home furnishings stores loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in Minnetonka, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Signature Bank, based in Minnetonka, Minnesota.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
MINNETONKA, MN 55305

SBA Loan Lender

SIGNATURE BANK
9800 BREN RD EAST, STE 200
MINNETONKA, MN 55343

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

4/8/2005

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Signature Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Bank Credit Lines

SBA 7A Banks in Minnetonka, Minnesota

Getting an SBA Loan in Minnesota