Where to Get Capital for Furniture Wholesalers

With these SBA loans for furniture wholesalers, the SBA guarantees the lender that the loan will be repaid. This furniture wholesalers loan for $60,000 was given to a New Jersey entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Andover, New Jersey was able to borrow $60,000 from Valley National Bank. The SBA made the loan possible by guaranteeing $30,000 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE WHOLESALERS
ANDOVER, NJ 07821

SBA Loan Lender

VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

421210 - Furniture Wholesalers

Loan Approval Date

10/25/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $30,000.

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 8 employees. The loan application indicated that the loan would help generate 16 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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