Raising Money for Floor Covering Stores

With these bank loans for floor covering stores, the SBA guarantees the lender that the loan will be repaid. This floor covering stores loan for $100,000 was given to an Arkansas entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Little Rock, Arkansas was able to borrow $100,000 from Metropolitan National Bank. The SBA made the loan possible by guaranteeing $50,000 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
LITTLE ROCK, AR 72205

SBA Loan Lender

METROPOLITAN NATIONAL BANK
425 W CAPITOL AVE
LITTLE ROCK, AR 72201

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

2/7/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Metropolitan 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 Friends and Family Network

SBA 7A Banks in Little Rock, Arkansas

Arkansas SBA Banks