Getting an SBA Loan for Furniture Stores

With these business loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $420,000 was given to a Florida entrepreneur in 2000.

This business knew how to go about getting a business bank loan. Based in West Palm Beach, Florida, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Colonial Bank, based in Montgomery, Alabama.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
WEST PALM BEACH, FL 33407

SBA Loan Lender

COLONIAL BANK
100 COLONIAL BANK BLVD
MONTGOMERY, AL 36117

This debt financing 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.

SIC Code

5712 - Furniture Stores

NAICS Code

442110 - Furniture Stores

Loan Approval Date

11/3/2000

Loan Approval Gross Amount

$420,000

Loan Approval from the SBA

Of the total $420,000 loan amount, the SBA guaranteed $315,000.

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 15 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $420,000. How would you spend $420,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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