Furniture Stores Loans

Looking for loans for furniture stores? The SBA may be the answer. This $1,335,000 furniture stores loan was issued by a Georgia bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Winston Salem, North Carolina was able to borrow $1,335,000 from Suntrust Bank. The SBA made the loan possible by guaranteeing $999,995 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
WINSTON SALEM, NC 27103

SBA Loan Lender

SUNTRUST BANK
25 PARK PLACE NE
ATLANTA, GA 30303

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

1/6/2003

Loan Approval Gross Amount

$1,335,000

Loan Approval from the SBA

Of the total $1,335,000 loan amount, the SBA guaranteed $999,995.

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 12 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Suntrust Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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