Financing for Furniture Stores

With these loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $358,000 was given to a Louisiana entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Natchitoches, Louisiana was able to borrow $358,000 from City Bank And Trust Company. The SBA made the loan possible by guaranteeing $268,500 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
NATCHITOCHES, LA 71457

SBA Loan Lender

CITY BANK AND TRUST COMPANY
146 RUE ST. DENIS
NATCHITOCHES, LA 71457

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

5/24/2001

Loan Approval Gross Amount

$358,000

Loan Approval from the SBA

Of the total $358,000 loan amount, the SBA guaranteed $268,500.

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 only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like City Bank And Trust Company and they will explain how you can get an SBA loan for your company.

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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