Financing for Home Furnishings Stores

With these loans for home furnishings stores, the SBA guarantees the lender that the loan will be repaid. This home furnishings stores loan for $236,000 was given to a Pennsylvania entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in State College, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Manufacturers & Traders Trust, based in Amherst, New York.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
STATE COLLEGE, PA 16803

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

7/14/2005

Loan Approval Gross Amount

$236,000

Loan Approval from the SBA

Of the total $236,000 loan amount, the SBA guaranteed $177,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 5 employees. The SBA loan documents did not indicate that the company promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 Manufacturers & Traders 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.

Related Links:

Obtaining Funding - How to Borrow Money

Best Banks for Small Business in Amherst, New York

Getting an SBA Loan in New York