Home Furnishings Stores Small Business Loans

Looking for small business loans for home furnishings stores? An SBA loan may be just what you've been looking for. This $650,000 home furnishings stores loan was issued by a California bank.

This small firm knew how to go about getting a business bank loan. Based in Salinas, California, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Monterey County Bank, based in Monterey, California.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
SALINAS, CA 93908

SBA Loan Lender

MONTEREY COUNTY BANK
601 MUNRAS AVE
MONTEREY, CA 93940

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

7/6/2005

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

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 5 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Monterey County Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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