Raising Money for Floor Covering Stores

With these business loans for floor covering stores, the SBA guarantees the lender that the loan will be repaid. This floor covering stores loan for $250,000 was given to an Indiana entrepreneur in 2005.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Centier Bank, out of Whiting, Indiana. The loan was granted and they received $250,000 to help grow their Merrillville, Indiana business.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
MERRILLVILLE, IN 46410

SBA Loan Lender

CENTIER BANK
1500 119TH ST
WHITING, IN 46394

This 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

8/10/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 5 employees. The loan application indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Merrillville IN, you ought to talk with a local Merrillville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Merrillville businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

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SBA Approved Banks in Whiting, Indiana

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