Financing for Floor Covering Stores

With these loans for floor covering stores, the SBA guarantees the lender that the loan will be repaid. This floor covering stores loan for $79,500 was given to a Texas entrepreneur in 2002.

This small firm knew how to go about getting a business bank loan. Based in Midland, Texas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Community National Bank, based in Midland, Texas.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
MIDLAND, TX 79701

SBA Loan Lender

COMMUNITY NATIONAL BANK
4300 N MIDLAND DR
MIDLAND, TX 79705

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

1/18/2002

Loan Approval Gross Amount

$79,500

Loan Approval from the SBA

Of the total $79,500 loan amount, the SBA guaranteed $67,575.

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 did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Community National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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