Where to Get Capital for Furniture Merchant Wholesalers

With these small business loans for furniture merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This furniture merchant wholesalers loan for $100,000 was given to a Texas entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Addison, Texas was able to borrow $100,000 from Compass Bank. The SBA made the loan possible by guaranteeing $75,000 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE
ADDISON, TX 75001

SBA Loan Lender

COMPASS BANK
2525 RIDGMAR BLVD
FORT WORTH, TX 76116

This lender issued this loan for a small business under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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.

SIC Code

5021 - Furniture

NAICS Code

423210 - Furniture Merchant Wholesalers

Loan Approval Date

3/19/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $75,000.

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

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Addison TX, you ought to talk with a local Addison SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Addison businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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