Floor Covering Stores Small Business Loans

With these small business loans for floor covering stores, the SBA guarantees the lender that the loan will be repaid. This floor covering stores loan for $749,000 was given to an Alaska entrepreneur in 2001.

This company knew how to go about getting a business bank loan. Based in Anchorage, Alaska, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Keybank National Association, based in Cleveland, Ohio.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
ANCHORAGE, AK 99518

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
127 PUBLIC SQ
CLEVELAND, OH 44114

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

1/25/2001

Loan Approval Gross Amount

$749,000

Loan Approval from the SBA

Of the total $749,000 loan amount, the SBA guaranteed $561,750.

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 17 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 17 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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