Financing for Furniture Stores

With these commercial loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $1,552,500 was given to a Minnesota entrepreneur in 2001.

Getting a small business loan in Arden Hills, Minnesota was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from U.S. Bank National Association, operating out of Cincinnati, Ohio. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
ARDEN HILLS, MN 55112

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

11/23/2001

Loan Approval Gross Amount

$1,552,500

Loan Approval from the SBA

Of the total $1,552,500 loan amount, the SBA guaranteed $999,996.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the funding would help generate 8 new jobs.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Arden Hills MN, you ought to talk with a local Arden Hills SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Arden Hills businesses.

We can help you find the best banks for small businesses in Arden Hills or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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