How to Get a Loan for Floor Covering Stores

Looking for business loans for floor covering stores? Talk to a banker who works with the SBA. This $105,600 floor covering stores loan was issued by a Wyoming bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Pinnacle Bank-Wyoming, out of Torrington, Wyoming. The loan was granted and they received $105,600 to help grow their Alliance, Nebraska business.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
ALLIANCE, NE 69301

SBA Loan Lender

PINNACLE BANK-WYOMING
2000 MAIN ST
TORRINGTON, WY 82240

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

11/5/2001

Loan Approval Gross Amount

$105,600

Loan Approval from the SBA

Of the total $105,600 loan amount, the SBA guaranteed $89,760.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Pinnacle Bank-Wyoming are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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