Floor Covering Stores Bank Loans

With these bank loans for floor covering stores, the SBA guarantees the lender that the loan will be repaid. This floor covering stores loan for $30,000 was given to a Montana entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Billings, Montana was able to borrow $30,000 from Stockman Bank Of Montana. The SBA made the loan possible by guaranteeing $15,000 of this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
BILLINGS, MT 59102

SBA Loan Lender

STOCKMAN BANK OF MONTANA
101 S CENTRAL AVE
SIDNEY, MT 59270

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

11/9/2004

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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