Financing for Home Furnishings Stores

With these commercial loans for home furnishings stores, the SBA guarantees the lender that the loan will be repaid. This home furnishings stores loan for $1,125,000 was given to a California entrepreneur in 2000.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Sterling Savings Bank, out of Santa Rosa, California. The loan was granted and they received $1,125,000 to help grow their Burlingame, California business.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
BURLINGAME, CA 94010

SBA Loan Lender

STERLING SAVINGS BANK
801 FOURTH ST
SANTA ROSA, CA 95404

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

442299 - Home Furnishings Stores

Loan Approval Date

12/19/2000

Loan Approval Gross Amount

$1,125,000

Loan Approval from the SBA

Of the total $1,125,000 loan amount, the SBA guaranteed $749,992.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 15 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Sterling Savings Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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