Financing for Furniture Stores

Looking for loans for furniture stores? The SBA may be the answer. This $241,400 furniture stores loan was issued by a New York bank.

Getting a small business loan in Port Jervis, New York was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Provident Bank, operating out of Montebello, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
PORT JERVIS, NY 12771

SBA Loan Lender

PROVIDENT BANK
400 RELLA BLVD
MONTEBELLO, NY 10901

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA 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.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

11/13/2006

Loan Approval Gross Amount

$241,400

Loan Approval from the SBA

Of the total $241,400 loan amount, the SBA guaranteed $181,050.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 Provident 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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