Small Business Loans for Floor Covering Stores

With these small business loans for floor covering stores, the SBA guarantees the lender that the loan will be repaid. This floor covering stores loan for $130,000 was given to a Maine entrepreneur in 2006.

Getting a small business loan in Falmouth, Maine was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Bath Savings Institution, operating out of Bath, Maine. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
FALMOUTH, ME 04105

SBA Loan Lender

BATH SAVINGS INSTITUTION
105 FRONT ST
BATH, ME 04530

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

442210 - Floor Covering Stores

Loan Approval Date

12/8/2006

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $65,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help retain 5 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bath Savings Institution that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Line of Credit

SBA 7A Banks in Bath, Maine

SBA Lenders in Maine