Borrow Money to Buy an Abbey Carpet Franchise

Need a loan to invest in an Abbey Carpet franchise? Five Star Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Corning, New York and are interested in buying an Abbey Carpet franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Five Star Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ABBEY CARPET
CORNING, NY 14870

SBA Loan Lender

FIVE STAR BANK
44 LIBERTY ST
BATH, NY 14810

This lender issued this particular SBA 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.

SIC Code

5713 - Floor Covering Stores

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

9/10/2002

Loan Approval Gross Amount

$74,000

Loan Approval from the SBA

Of the total $74,000 loan amount, the SBA guaranteed $62,900.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Abbey Carpet franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $74,000. How would you spend $74,000 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:

Abbey Carpet

Equity Financing

SBA Approved Banks in Bath, New York

Getting an SBA Loan in New York