Financing for Floor Laying and Floor Contractors

With these commercial loans for floor laying and floor contractors, the SBA guarantees the lender that the loan will be repaid. This floor laying and floor contractors loan for $1,080,000 was given to a California entrepreneur in 2000.

This small business knew how to go about getting a business bank loan. Based in Chatsworth, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Comerica Bank, based in Dallas, Texas.

SBA Loan Borrower

COMPANY TYPE: FLOOR LAYING AND OTHER FLOOR WORK
CHATSWORTH, CA 91311

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

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.

SIC Code

1752 - Floor Laying and Other Floor Work

NAICS Code

235520 - Floor Laying and Floor Contractors

Loan Approval Date

9/11/2000

Loan Approval Gross Amount

$1,080,000

Loan Approval from the SBA

Of the total $1,080,000 loan amount, the SBA guaranteed $749,995.

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 300 employees. This SBA loan request indicated that the loan would help generate 75 new jobs and retain 375 existing jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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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