Business Loans for Flooring Contractors

With these business loans for flooring contractors, the SBA guarantees the lender that the loan will be repaid. This flooring contractors loan for $35,000 was given to an Utah entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Grantsville, Utah was able to borrow $35,000 from Tooele Fcu. The SBA made the loan possible by guaranteeing $17,500 of this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOORING CONTRACTORS
GRANTSVILLE, UT 84029

SBA Loan Lender

TOOELE FCU
562 N MAIN ST
TOOELE, UT 84074

The lender provided this bank 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

3/31/2005

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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