Financing for Furniture Stores

Looking for loans for furniture stores? Try the SBA. This $400,000 furniture stores loan was issued by an Indiana bank.

Getting a small business loan in South Bend, Indiana was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Mfb Financial, operating out of South Bend, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
SOUTH BEND, IN 46614

SBA Loan Lender

MFB FINANCIAL
100 E WAYNE ST, STE 150
SOUTH BEND, IN 46601

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 commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5712 - Furniture Stores

NAICS Code

442110 - Furniture Stores

Loan Approval Date

6/27/2002

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 15 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 Mfb Financial 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:

SBIR Funding

Who Lends Money to Small Businesses in South Bend, Indiana

Indiana SBA Banks