Financing for Furniture Stores

Looking for commercial loans for furniture stores? The SBA may be the answer. This $127,000 furniture stores loan was issued by a Missouri bank.

Getting a small business loan in Park Hills, Missouri was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Unico Bank, operating out of Potosi, Missouri. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
PARK HILLS, MO 63601

SBA Loan Lender

UNICO BANK
HWYS 8 & U
POTOSI, MO 63664

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

8/8/2002

Loan Approval Gross Amount

$127,000

Loan Approval from the SBA

Of the total $127,000 loan amount, the SBA guaranteed $107,950.

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 company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Unico Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Unico Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Obtaining Funding - Friends and Family

Best Potosi, Missouri Banks for Small Business

Getting a Business Loan in Missouri