Raising Money for Nonupholstered Wood Household Furniture Manufacturing

With these business loans for nonupholstered wood household furniture manufacturing, the SBA guarantees the lender that the loan will be repaid. This nonupholstered wood household furniture manufacturing loan for $272,000 was given to a Louisiana entrepreneur in 2001.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Central Progressive Bank, out of Lacombe, Louisiana. The loan was granted and they received $272,000 to help grow their Slidell, Louisiana business.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
SLIDELL, LA 70458

SBA Loan Lender

CENTRAL PROGRESSIVE BANK
29092 KRENTEL RD
LACOMBE, LA 70445

When this loan was made, this bank participated in the SBA's Certified Lenders Program (CLP). This program aims to provide fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5712 - Furniture Stores

NAICS Code

337122 - Nonupholstered Wood Household Furniture Manufacturing

Loan Approval Date

9/12/2001

Loan Approval Gross Amount

$272,000

Loan Approval from the SBA

Of the total $272,000 loan amount, the SBA guaranteed $204,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 11 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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 Central Progressive 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:

Understanding Dilution

Good Banks for Small Business in Lacombe, Louisiana

SBA Lenders in Louisiana