Home Furnishings Stores Business Loans

Looking for business loans for home furnishings stores? An SBA loan may be just what you've been looking for. This $200,000 home furnishings stores loan was issued by a Minnesota bank.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Stearns Bank, out of Saint Cloud, Minnesota. The loan was granted and they received $200,000 to help grow their Saint Cloud, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
SAINT CLOUD, MN 56301

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

4/5/2005

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 15 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 15 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Stearns Bank and they will explain how you can get an SBA loan for your company.

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:

Obtaining Funding - How to Borrow Money

Where to Get an SBA Loan in Saint Cloud, Minnesota

Find an SBA Lender in Minnesota