Borrowing Money 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 $252,000 was given to a Texas entrepreneur in 2002.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First National Bank, out of Evant, Texas. The loan was granted and they received $252,000 to help grow their Fort Worth, Texas business.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS
FORT WORTH, TX 76107

SBA Loan Lender

FIRST NATIONAL BANK
115 S MEMORY LN
EVANT, TX 76525

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5023 - Homefurnishings

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

8/22/2002

Loan Approval Gross Amount

$252,000

Loan Approval from the SBA

Of the total $252,000 loan amount, the SBA guaranteed $189,000.

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 4 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

The Art of Bootstrapping

SBA Banks in Evant, Texas

Texas SBA Bank Lenders