Where to Get Capital for Home Furnishing Wholesalers

Looking for SBA loans for home furnishing wholesalers? Talk to a banker who works with the SBA. This $1,800,000 home furnishing wholesalers loan was issued by a Colorado bank.

This small business knew how to go about getting a business bank loan. Based in San Diego, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Cit Small Business Lending Corp, based in Golden, Colorado.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS
SAN DIEGO, CA 92126

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1526 COLE BLVD., BLDG #3, STE
GOLDEN, CO 80401

When it made this small business loan, this bank participated in the SBA's Certified Lenders Program (CLP). This program is designed to ensure speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5023 - Homefurnishings

NAICS Code

421220 - Home Furnishing Wholesalers

Loan Approval Date

3/6/2001

Loan Approval Gross Amount

$1,800,000

Loan Approval from the SBA

Of the total $1,800,000 loan amount, the SBA guaranteed $872,406.

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 9 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

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.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Cit Small Business Lending Corp so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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Getting an SBA Loan in Colorado