Raising Money for Floor Covering Stores

Looking for bank loans for floor covering stores? An SBA loan may be just what you've been looking for. This $470,000 floor covering stores loan was issued by a Nebraska bank.

Getting a small business loan in Hastings, Nebraska was important for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Heritage Bank, operating out of Hastings, Nebraska. Here are the details on this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS
HASTINGS, NE 68901

SBA Loan Lender

HERITAGE BANK
800 W 3RD ST
HASTINGS, NE 68901

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 business 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

1/26/2007

Loan Approval Gross Amount

$470,000

Loan Approval from the SBA

Of the total $470,000 loan amount, the SBA guaranteed $352,500.

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 25 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Heritage Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Heritage Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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