Financing for Furniture Merchant Wholesalers

With these commercial loans for furniture merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This furniture merchant wholesalers loan for $20,000 was given to a New York entrepreneur in 2005.

This small business knew how to go about getting a business bank loan. Based in Saratoga Springs, New York, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was The Adirondack Trust Company, based in Saratoga Springs, New York.

SBA Loan Borrower

COMPANY TYPE: FURNITURE MERCHANT WHOLESALERS
SARATOGA SPRINGS, NY 12866

SBA Loan Lender

THE ADIRONDACK TRUST COMPANY
473 BROADWAY
SARATOGA SPRINGS, NY 12866

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

423210 - Furniture Merchant Wholesalers

Loan Approval Date

11/2/2005

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Adirondack Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Adirondack Trust Company 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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