Cooper's Furniture
Cooper's Furniture is a furniture retailer located in Cary, North Carolina. The business was financed with an SBA 7(a) loan for a change of ownership, in the amount of $1.21 million, through First Bank, with approval dated May 28, 2025.
SBA 7(a) loan, change of ownership, approved May 28, 2025
$1,210,000 approvedLender: First Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,210,000
- SBA-guaranteed amount
- $907,500 (75% of the approval)
- Lender
- First Bank, Southern Pines, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 28, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $16,327 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 27, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 449110, Furniture Retailers
- Project location
- Wake County, NC
- SBA district office
- North Carolina District Office
- Congressional district
- NC-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 39% of acquisition loans in Furniture Retailers on this site.
- Average acquisition loan in Furniture Retailers: $1,875,127.
- Average acquisition loan in North Carolina: $1,952,444.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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Same industry in North Carolina
- High Country Furniture & Design, Inc., Waynesville
- Mid-State Furniture, Carthage