Raising Money for Furniture Wholesalers

Looking for business loans for furniture wholesalers? An SBA loan may be just what you've been looking for. This $350,000 furniture wholesalers loan was issued by a Pennsylvania bank.

This business knew how to go about getting a business bank loan. Based in Williamsport, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was The Legacy Bank, A Division Of, based in Williamsport, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: FURNITURE
WILLIAMSPORT, PA 17701

SBA Loan Lender

THE LEGACY BANK, A DIVISION OF
120 W FOURTH ST
WILLIAMSPORT, PA 17701

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5021 - Furniture

NAICS Code

421210 - Furniture Wholesalers

Loan Approval Date

8/30/2002

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 50 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $350,000 loan. Remember, you control your own destiny.

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:

VC Firms on Twitter

Small Business Banks in Williamsport, Pennsylvania

Getting a Business Loan in Pennsylvania