Business Loans for Reupholstery and Furniture Repair
With these business loans for reupholstery and furniture repair, the SBA guarantees the lender that the loan will be repaid. This reupholstery and furniture repair loan for $47,800 was given to a Pennsylvania entrepreneur in 2002.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Connellsville, Pennsylvania was able to borrow $47,800 from National City Bank. The SBA made the loan possible by guaranteeing $40,630 of this Pennsylvania small business loan.
SBA Loan Borrower
COMPANY TYPE: REUPHOLSTERY AND FURNITURE REPAIR
CONNELLSVILLE, PA 15425
SBA Loan Lender
NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222
This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
7641 - Reupholstery and Furniture Repair
811420 - Reupholstery and Furniture Repair
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $47,800 loan amount, the SBA guaranteed $40,630.
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 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
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.
We can help you find the best banks for small businesses in Connellsville 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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