Borrowing Money for Home Furnishings Stores

With these small business loans for home furnishings stores, the SBA guarantees the lender that the loan will be repaid. This home furnishings stores loan for $200,000 was given to a Connecticut entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in Westport (town Of), Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Webster Bank, based in New Milford, Connecticut.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
WESTPORT (TOWN OF), CT 06880

SBA Loan Lender

WEBSTER BANK
19 MAIN ST
NEW MILFORD, CT 06776

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

4/25/2005

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the funding would help generate 4 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Webster Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Debt Financing

Where to Get an SBA Loan in New Milford, Connecticut

Connecticut SBA Banks