Getting an SBA Loan for Flooring Contractors

With these commercial loans for flooring contractors, the SBA guarantees the lender that the loan will be repaid. This flooring contractors loan for $250,000 was given to a Texas entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cypress, Texas was able to borrow $250,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $125,000 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOORING CONTRACTORS
CYPRESS, TX 77429

SBA Loan Lender

WELLS FARGO BANK
16414 SAN PEDRO, STE 1000
SAN ANTONIO, TX 78232

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

238330 - Flooring Contractors

Loan Approval Date

11/5/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Cypress TX, you ought to talk with a local Cypress SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cypress businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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