How to Get a Loan for Furniture Stores
Looking for business loans for furniture stores? The SBA may be the answer. This $100,000 furniture stores loan was issued by a Pennsylvania bank.
This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with National City Bank, out of Pittsburgh, Pennsylvania. The loan was granted and they received $100,000 to help grow their Oil City, Pennsylvania business.
SBA Loan Borrower
COMPANY TYPE: FURNITURE STORES
OIL CITY, PA 16301
SBA Loan Lender
NATIONAL CITY BANK
20 STANWIX ST, NATIONAL CITY
PITTSBURGH, PA 15222
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
5712 - Furniture Stores
442110 - Furniture Stores
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $85,000.
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 only one employee. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
We can help you find the best banks for small businesses in Oil City 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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