Furniture Stores Small Business Loans

With these small business loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $112,200 was given to a Florida entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pensacola, Florida was able to borrow $112,200 from Regions Bank. The SBA made the loan possible by guaranteeing $95,370 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
PENSACOLA, FL 32501

SBA Loan Lender

REGIONS BANK
250 RIVERCHASE PKWY E RCS-1 B
BIRMINGHAM, AL 35244

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

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

9/27/2001

Loan Approval Gross Amount

$112,200

Loan Approval from the SBA

Of the total $112,200 loan amount, the SBA guaranteed $95,370.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application 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 guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Regions Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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