Getting an SBA Loan for Home Furnishing Wholesalers

With these business loans for home furnishing wholesalers, the SBA guarantees the lender that the loan will be repaid. This home furnishing wholesalers loan for $1,500,000 was given to a Texas entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sugarland, Texas was able to borrow $1,500,000 from The Frost National Bank. The SBA made the loan possible by guaranteeing $999,990 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS
SUGARLAND, TX 77479

SBA Loan Lender

THE FROST NATIONAL BANK
100 W HOUSTON ST
SAN ANTONIO, TX 78205

This debt financing was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5023 - Homefurnishings

NAICS Code

421220 - Home Furnishing Wholesalers

Loan Approval Date

2/12/2001

Loan Approval Gross Amount

$1,500,000

Loan Approval from the SBA

Of the total $1,500,000 loan amount, the SBA guaranteed $999,990.

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 19 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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Where to Get an SBA Loan Texas