Arkansas Entrepreneur Secures Financing to Buy Sears Carpet & Upholstery Care Franchise

Borrowing money to invest in a Sears Carpet & Upholstery Care franchise? Community Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Cabot, Arkansas and are interested in buying a Sears Carpet & Upholstery Care franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Community Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

CABOT SEARS
CABOT, AR 72023

SBA Loan Lender

COMMUNITY BANK
2171 W MAIN
CABOT, AR 72023

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

7/13/2004

Loan Approval Gross Amount

$87,000

Loan Approval from the SBA

Of the total $87,000 loan amount, the SBA guaranteed $73,950.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sears Carpet & Upholstery Care franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

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.

Related Links:

Sears Carpet & Upholstery Care, Inc.

The Art of Bootstrapping

SBA Participating Banks in Cabot, Arkansas

SBA Lenders in Arkansas