Where to Get Capital for Upholstered Household Furniture Manufacturing

With these small business loans for upholstered household furniture manufacturing, the SBA guarantees the lender that the loan will be repaid. This upholstered household furniture manufacturing loan for $52,000 was given to a Michigan entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Saint Clair Shores, Michigan was able to borrow $52,000 from National City Bank. The SBA made the loan possible by guaranteeing $44,200 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: MATTRESSES, FOUNDATIONS, AND CONVERTIBLE BEDS
SAINT CLAIR SHORES, MI 48082

SBA Loan Lender

NATIONAL CITY BANK
101 W WASHINGTON ST # 100 E
INDIANAPOLIS, IN 46255

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2515 - Mattresses, Foundations, and Convertible Beds

NAICS Code

337121 - Upholstered Household Furniture Manufacturing

Loan Approval Date

5/3/2001

Loan Approval Gross Amount

$52,000

Loan Approval from the SBA

Of the total $52,000 loan amount, the SBA guaranteed $44,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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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