Get an SBA Loan for Home Furnishings Stores
With these bank loans for home furnishings stores, the SBA guarantees the lender that the loan will be repaid. This home furnishings stores loan for $225,000 was given to a California entrepreneur in 2001.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pasadena, California was able to borrow $225,000 from Nara Bank. The SBA made the loan possible by guaranteeing $168,750 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: HOME FURNISHINGS STORES
PASADENA, CA 91107
SBA Loan Lender
NARA BANK
3731 WILSHIRE BLVD, STE 1000
LOS ANGELES, CA 90010
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
442299 - Home Furnishings Stores
Loan Approval Date
1/17/2001
Loan Approval Gross Amount
$225,000
Loan Approval from the SBA
Of the total $225,000 loan amount, the SBA guaranteed $168,750.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Nara 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.
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