Getting an SBA Loan for Furniture Stores

With these SBA loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $824,500 was given to a Colorado entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Steamboat Springs, Colorado was able to borrow $824,500 from Comerica Bank. The SBA made the loan possible by guaranteeing $618,375 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
STEAMBOAT SPRINGS, CO 80487

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

6/13/2003

Loan Approval Gross Amount

$824,500

Loan Approval from the SBA

Of the total $824,500 loan amount, the SBA guaranteed $618,375.

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 only one employee. The loan application indicated that the loan would help create 7 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 Comerica 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.

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