Fort Collins, CO Entrepreneur Gets SBA Loan to Buy Rug Decor Outlet Franchise

Borrowing money to buy a Rug Decor Outlet franchise? Guaranty Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Rug Decor Outlet franchise? If so, here's a 2003 SBA franchise loan that you should know about. Guaranty Bank & Trust was the lender and the entrepreneur was based in Fort Collins, Colorado.

SBA Loan Borrower

RUG DECOR OUTLET
FORT COLLINS, CO 80525

SBA Loan Lender

GUARANTY BANK & TRUST
1331 17TH ST
DENVER, CO 80202

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

8/22/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rug Decor Outlet franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

Related Links:

Getting a Small Business Loan

Good Banks for Small Business in Denver, Colorado

Find an SBA Lender in Colorado