Where to Get Capital for Furniture Stores

Looking for SBA loans for furniture stores? Try the SBA. This $85,000 furniture stores loan was issued by a New Jersey bank.

This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Paragon Fcu, out of Montvale, New Jersey. The loan was granted and they received $85,000 to help grow their Union City, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
UNION CITY, NJ 07087

SBA Loan Lender

PARAGON FCU
100 PARAGON DR
MONTVALE, NJ 07645

This small 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

442110 - Furniture Stores

Loan Approval Date

11/15/2007

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Raising VC Money for Social Networking Companies

SBA Participating Banks in Montvale, New Jersey

Where to Get an SBA Loan New Jersey