Get an SBA Loan for Furniture Stores

Looking for small business loans for furniture stores? The SBA may be the answer. This $50,000 furniture stores loan was issued by a Pennsylvania bank.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with National Penn Bank, out of Boyertown, Pennsylvania. The loan was granted and they received $50,000 to help grow their Reading, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
Reading, PA 19605

SBA Loan Lender

NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512

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

442110 - Furniture Stores

Loan Approval Date

11/18/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $37,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a 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.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National Penn Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National Penn Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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