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February 1, 2023  
 
 
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Loan Census SBA Loan Info

Borrowing Money for Furniture Stores

With these bank loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $431,250 was given to a Louisiana entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in Duson, Louisiana, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Gulf Coast Bank, based in Abbeville, Louisiana.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
DUSON, LA 70529

SBA Loan Lender

GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

11/23/2005

Loan Approval Gross Amount

$431,250

Loan Approval from the SBA

Of the total $431,250 loan amount, the SBA guaranteed $323,438.

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 5 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your 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 Duson 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.

Related Links:

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Small Bank Loans in Abbeville, Louisiana

SBA Participating Banks in Louisiana