Where to Get Capital for Furniture Wholesalers

With these small business loans for furniture wholesalers, the SBA guarantees the lender that the loan will be repaid. This furniture wholesalers loan for $1,032,500 was given to a California entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Murrieta, California was able to borrow $1,032,500 from Mission Oaks National Bank. The SBA made the loan possible by guaranteeing $774,375 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE
MURRIETA, CA 92562

SBA Loan Lender

MISSION OAKS NATIONAL BANK
41530 ENTERPRISE CIR, STE 100
TEMECULA, CA 92590

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA 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

5021 - Furniture

NAICS Code

421210 - Furniture Wholesalers

Loan Approval Date

5/7/2002

Loan Approval Gross Amount

$1,032,500

Loan Approval from the SBA

Of the total $1,032,500 loan amount, the SBA guaranteed $774,375.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 31 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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