Getting an SBA Loan for Floor Covering Stores

With these commercial loans for floor covering stores, the SBA guarantees the lender that the loan will be repaid. This floor covering stores loan for $20,000 was given to a Vermont entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Manchester Center, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Berkshire Bank, based in Manchester Center, Vermont.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
MANCHESTER CENTER, VT 05255

SBA Loan Lender

BERKSHIRE BANK
4928 MAIN ST
MANCHESTER CENTER, VT 05255

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

442210 - Floor Covering Stores

Loan Approval Date

8/10/2006

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

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

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Berkshire 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:

Direct Public Offerings

Good Banks for Small Business in Manchester Center, Vermont

Vermont SBA Banks