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May 13, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Kansas City, Business Loans > Commerce Bank Kansas City Business Loans > Furniture Stores Loan | ||||
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Tips for Entrepreneurs On Getting a Loan
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Furniture Stores Business LoansLooking for business loans for furniture stores? The SBA may be the answer. This $150,000 furniture stores loan was issued by a Missouri bank. This small business knew how to go about getting a business bank loan. Based in St. Joseph, Missouri, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Commerce Bank, based in Kansas City, Missouri. SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender COMMERCE BANK This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 442110 - Furniture Stores Loan Approval Date 5/26/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 loan application indicated that the loan would help generate 3 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Commerce Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Find an SBA Lender in Kansas City, Missouri
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