Commercial Loans for Floor Covering Stores

With these commercial loans for floor covering stores, the SBA guarantees the lender that the loan will be repaid. This floor covering stores loan for $1,455,000 was given to a California entrepreneur in 2004.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with U.S. Bank National Association, out of Cincinnati, Ohio. The loan was granted and they received $1,455,000 to help grow their Escondido, California business.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
ESCONDIDO, CA 92029

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

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

8/6/2004

Loan Approval Gross Amount

$1,455,000

Loan Approval from the SBA

Of the total $1,455,000 loan amount, the SBA guaranteed $1,091,250.

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 84 employees. The SBA loan application for the borrower indicated that the loan would help retain 84 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.

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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