Cornerstone Home Furnishings LLC
Cornerstone Home Furnishings LLC is located in Lutherville Timonium, Maryland, and operates in the All Other Home Furnishings Retailers industry (NAICS 449129). The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $743,000, approved on September 4, 2024, through First National Bank of Pennsylvania.
SBA 7(a) loan, change of ownership, approved Sep 4, 2024
$743,000 approvedLender: First National Bank of Pennsylvania10 years termPaid in fullLoan details
- Gross approval
- $743,000
- SBA-guaranteed amount
- $557,250 (75% of the approval)
- Lender
- First National Bank of Pennsylvania, Greenville, PA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.49%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- September 4, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $10,022 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 24, 2024
- Loan status
- Paid in full
- Jobs supported
- 10
- Business type
- Corporation
- NAICS
- 449129, All Other Home Furnishings Retailers
- Project location
- Baltimore County, MD
- SBA district office
- Baltimore District Office
- Congressional district
- MD-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 31% of acquisition loans in All Other Home Furnishings Retailers on this site.
- Average acquisition loan in All Other Home Furnishings Retailers: $1,148,862.
- Average acquisition loan in Maryland: $1,627,337.
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.
Is this your company? Claim or correct this listing. See Corrections.