Borrowing Money for Furniture Stores

With these bank loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $125,000 was given to a Wyoming entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Powell, Wyoming was able to borrow $125,000 from Shoshone First Bank. The SBA made the loan possible by guaranteeing $106,250 of this Wyoming small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
POWELL, WY 82435

SBA Loan Lender

SHOSHONE FIRST BANK
102 E 2ND ST
POWELL, WY 82435

This lender issued this particular small business loan 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

7/25/2003

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 11 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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