Borrow Money to Buy a Furniture Medic Franchise

Borrowing money to buy a Furniture Medic franchise? Pacific Cap. Bank has a history of making these loans and they are guaranteed by the SBA.

Furniture Medic franchise loans are available to Phoenix, Arizona entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Pacific Cap. Bank, based in Santa Barbara, California, issued an SBA franchise loan for a Furniture Medic franchise in 2005. We've got all the details on this Arizona small business loan.

SBA Loan Borrower

FURNITURE MEDIC
PHOENIX, AZ 85009

SBA Loan Lender

PACIFIC CAP. BANK
1021 ANACAPA ST
SANTA BARBARA, CA 93101

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811412 - Appliance Repair and Maintenance

Loan Approval Date

6/15/2005

Loan Approval Gross Amount

$348,000

Loan Approval from the SBA

Of the total $348,000 loan amount, the SBA guaranteed $261,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Furniture Medic franchise. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs.

Next Steps for Getting an SBA Loan

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pacific Cap. Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Furniture Medic L.P.

Angel Investors

SBA 7A Banks for Santa Barbara, California Loans

Getting an SBA Loan in California