Furniture Merchant Wholesalers SBA Loans

Looking for SBA loans for furniture merchant wholesalers? Talk to a banker who works with the SBA. This $300,000 furniture merchant wholesalers loan was issued by a Pennsylvania bank.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Community Bank & Trust, out of Clarks Summit, Pennsylvania. The loan was granted and they received $300,000 to help grow their Scranton, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: FURNITURE
SCRANTON, PA 18505

SBA Loan Lender

COMMUNITY BANK & TRUST
125 N STATE ST
CLARKS SUMMIT, PA 18411

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5021 - Furniture

NAICS Code

423210 - Furniture Merchant Wholesalers

Loan Approval Date

9/23/2005

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 8 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

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 Community Bank & Trust 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.

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