Home Furnishings Stores Loans

Looking for loans for home furnishings stores? Talk to a banker who works with the SBA. This $150,000 home furnishings stores loan was issued by a Minnesota bank.

Getting a small business loan in Plymouth, Minnesota was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Crown Bank, operating out of Edina, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
PLYMOUTH, MN 55447

SBA Loan Lender

CROWN BANK
6600 FRANCE AVE SOUTH, STE 12
EDINA, MN 55435

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

7/13/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 7 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Crown Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Family and Friend Investors - Your First Financiers

Where to Get an SBA Loan in Edina, Minnesota

SBA Lenders in Minnesota