Small Business Loans for Home Furnishings Stores

With these small business loans for home furnishings stores, the SBA guarantees the lender that the loan will be repaid. This home furnishings stores loan for $271,200 was given to a Wisconsin entrepreneur in 2004.

Getting a small business loan in New Glarus, Wisconsin was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Amcore Bank, operating out of Rockford, Illinois. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
NEW GLARUS, WI 53574

SBA Loan Lender

AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

8/27/2004

Loan Approval Gross Amount

$271,200

Loan Approval from the SBA

Of the total $271,200 loan amount, the SBA guaranteed $203,400.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The loan application indicated that the loan would help retain 2 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Amcore Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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SBA Banks in Rockford, Illinois

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