Main Street Registry

Japenga Furnishings Inc.

Coralville, IA · Furniture Retailers · NAICS 449110

Japenga Furnishings Inc. is a furniture retailer in Coralville, Iowa, classified under NAICS 449110 (Furniture Retailers). The company was financed with an SBA 7(a) loan for a change of ownership of $5 million, approved on January 16, 2026, through Merchants Bank of Indiana.

SBA 7(a) loan, change of ownership, approved Jan 16, 2026

$5,000,000 approvedLender: Merchants Bank of Indiana25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$5,000,000
SBA-guaranteed amount
$3,750,000 (75% of the approval)
Lender
Merchants Bank of Indiana, Carmel, IN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.75%, variable
Term
25 years (300 months)
Estimated maturity
January 16, 2051 (estimated, approval date plus term)
Estimated monthly payment
$41,107 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 22, 2026
Loan status
Status not reported (SBA exemption)
Jobs supported
16
Business type
Corporation
NAICS
449110, Furniture Retailers
Franchise
Slumberland Furniture
Project location
Johnson County, IA
SBA district office
Des Moines District Office
Congressional district
IA-02
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 97% of acquisition loans in Furniture Retailers on this site.
  • Average acquisition loan in Furniture Retailers: $1,875,127.
  • Average acquisition loan in Iowa: $1,701,244.

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 Iowa