Getting an SBA Loan for Home Furnishings Stores

With these commercial loans for home furnishings stores, the SBA guarantees the lender that the loan will be repaid. This home furnishings stores loan for $369,500 was given to a Washington entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Banner Bank, out of Spokane, Washington. The loan was granted and they received $369,500 to help grow their Spokane, Washington business.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
SPOKANE, WA 99202

SBA Loan Lender

BANNER BANK
501 N RIVERPOINT BLVD, STE 24
SPOKANE, WA 99202

When this loan was made, the lender participated in the SBA's Certified Lenders Program (CLP). This program was created to offer expeditious 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.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

4/24/2002

Loan Approval Gross Amount

$369,500

Loan Approval from the SBA

Of the total $369,500 loan amount, the SBA guaranteed $277,125.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 18 employees. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $369,500 loan. Remember, you control your own destiny.

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:

Obtaining Funding - Getting Venture Capital

Find an SBA Lender in Spokane, Washington

SBA Washington Banks