SBA Loans for Furniture Stores
There are over 48,000 furniture stores throughout the United States. These businesses generate over $25 billion in revenue each year. As such, owning a furniture store can be very rewarding. However, starting, buying, or growing a furniture store often comes with financial challenges. If you need to finance any aspect of a furniture store, the Small Business Administration offers many affordable loans. By securing SBA loans for furniture stores, you can maintain financial security as you establish your business.
If you are looking to obtain an SBA loan for a furniture store, working with a quality SBA lender is critical. Peak Business Valuation is happy to help! As a business appraiser, Peak works with over 90 SBA lenders throughout the country. We can connect you with an experienced SBA lender for furniture stores! In addition, Peak Business Valuation can provide you with an SBA business valuation for a furniture store. If you have any questions, schedule your free consultation with Peak Business Valuation below!
Benefits of SBA Loans for Furniture Stores
SBA loans for furniture stores come with many benefits whether you are starting, buying, or expanding a furniture store. For example, SBA loans for furniture stores are backed by the Small Business Administration. This means that the SBA will help cover the cost of the loan if borrowers need assistance. As such, SBA lenders are more likely to approve loans to qualifying applicants. Additionally, SBA loans feature long repayment terms, low interest rates, and low down payments. This makes it more affordable to operate a furniture store. To learn more about SBA loans for furniture stores, see SBA Business Valuations.
Buying a Furniture Store with an SBA Loan
Buying a furniture store is a quick way to establish a strong presence in the furniture retail industry. However, buying a furniture store can be costly. This often includes additional costs such as closing costs, supply and equipment purchases, partnership buyouts, etc… Business owners can use an SBA loan to help cover the costs of buying a furniture store. SBA loans for purchasing a business come with low-interest rates and down payments. In addition, these loans feature repayment periods of up to 10 years. This makes buying a furniture store affordable if the transaction exceeds your budget.
SBA 7(a) Loans for Furniture Stores
The SBA 7(a) loan is one of the most versatile loans offered by the Small Business Administration. This SBA loan can help finance a wide variety of furniture store needs. For instance, you may use an SBA 7(a) loan to buy a furniture store, buy out a partner, refinance debt, etc… The SBA 7(a) loan also provides up to $5 million in financing and can be used for up to 10 years. This is ideal if you need to finance any aspect of your furniture store. Schedule a free consultation with Peak Business Valuation to learn more about SBA loans for furniture stores.
Expanding a Furniture Store with an SBA 504 Loan
The SBA 504 loan is an ideal financing option if you are preparing to expand a furniture store. Borrowers can use the SBA 504 loan to obtain capital that is often difficult to acquire. For instance, growing a furniture store often requires purchasing real estate and/or long-term machinery and equipment. These can be very large investments. You can use the SBA 504 loan to finance these expenses.
As a professional business appraiser, Peak Business Valuation regularly works with individuals looking to expand a furniture store. We are happy to provide you with a business valuation for a furniture store. In addition, Peak can connect you with a reputable furniture store SBA lender. If you have any questions about SBA loans for furniture stores, schedule a free consultation with Peak Business Valuation below!
SBA Equipment Loans for Furniture Stores
Next, furniture stores use a variety of machinery and equipment. Some common furniture store equipment includes forklifts, display tables, shelving units, security systems, hand carts, delivery vans, trucks, etc… This machinery and equipment can carry high value. As such, financing equipment purchases with an SBA loan may be beneficial. SBA financing for furniture stores is more affordable and convenient than traditional loan options.
SBA lenders often request an equipment appraisal as part of the SBA application process. Peak Business Valuation, business appraiser, frequently provides SBA machinery and equipment appraisals. We can provide you with a machinery and equipment appraisal for a furniture store and discuss any questions you may have about valuing furniture store equipment. Schedule your free consultation with Peak Business Valuation today!
SBA 7(a) Line of Credit for Furniture Stores
Finally, the SBA 7(a) line of credit is similar to a credit card or home equity loan. Borrowers receive a line of credit that can be used and paid off as needed. This allows furniture stores to finance a variety of needs. This may include business expansion, financing inventory, or hiring new employees. The SBA 7(a) line of credit is ideal for furniture stores that need immediate access to funds. Additionally, this SBA loan is ideal for short-term needs or cyclical working. There are several SBA loans for furniture stores. To learn more, see How to Obtain an SBA Loan.
Conclusion
Starting, buying, or growing a furniture store can be expensive. As such, the Small Business Administration is dedicated to helping business owners succeed through SBA loans. SBA loans offer favorable down payments, interest rates, and repayment terms. By securing SBA loans for furniture stores, you can have financial flexibility while operating your business. To learn more, see SBA Loans or SBA Financing.
At Peak Business Valuation, we work with many furniture stores across the nation. We are happy to provide you with an SBA business valuation. In addition, Peak works with over 90 SBA lenders throughout the United States! You can connect with a quality and experienced SBA lender by working with Peak Business Valuation. Peak can also answer any questions you may have about SBA loans for furniture stores or a furniture store valuation. Schedule a free consultation with Peak Business Valuation today to get started!
