Floor Covering Stores Small Business Loans

Looking for small business loans for floor covering stores? An SBA loan may be just what you've been looking for. This $197,500 floor covering stores loan was issued by a Kansas bank.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with 1st National Bank - Ola, out of Olathe, Kansas. The loan was granted and they received $197,500 to help grow their Blue Springs, Missouri business.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
BLUE SPRINGS, MO 64015

SBA Loan Lender

1ST NATIONAL BANK - OLA
444 E SANTA FE
OLATHE, KS 66061

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

11/6/2006

Loan Approval Gross Amount

$197,500

Loan Approval from the SBA

Of the total $197,500 loan amount, the SBA guaranteed $148,125.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st National Bank - Ola and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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