Small Business Loans for Furniture Merchant Wholesalers

With these small business loans for furniture merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This furniture merchant wholesalers loan for $150,000 was given to a Louisiana entrepreneur in 2005.

Getting a small business loan in New Orleans, Louisiana was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from United Midwest Savings Bank, operating out of De Graff, Ohio. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE MERCHANT WHOLESALERS
NEW ORLEANS, LA 70123

SBA Loan Lender

UNITED MIDWEST SAVINGS BANK
101 S MAIN ST
DE GRAFF, OH 43318

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

423210 - Furniture Merchant Wholesalers

Loan Approval Date

3/17/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 4 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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