The Lorain National Bank Provides SBA Loan to Buy Duraclean Rug Franchise

Need a loan to buy a Duraclean Rug franchise? The Lorain National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Duraclean Rug franchise? If so, here's a 2001 SBA franchise loan that you should know about. The Lorain National Bank was the lender and the entrepreneur was based in Avon, Ohio.

SBA Loan Borrower

TODD A WEARSCH AND DURACLEAN R
AVON, OH 44011

SBA Loan Lender

THE LORAIN NATIONAL BANK
457 BROADWAY
LORAIN, OH 44052

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

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

6/15/2001

Loan Approval Gross Amount

$432,500

Loan Approval from the SBA

Of the total $432,500 loan amount, the SBA guaranteed $324,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Duraclean Rug franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $432,500. How would you spend $432,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

Related Links:

Duraclean International, Inc.

SBIR Funding

SBA Participating Banks in Lorain, Ohio

Getting a Business Loan in Ohio