Borrow Money to Buy a Professional Carpet Systems Franchise

Borrowing money to buy a Professional Carpet Systems franchise? Security State Bank has a history of making these loans and they are guaranteed by the SBA.

Professional Carpet Systems franchise loans are available to Midland, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Security State Bank, based in Midland, Texas, issued an SBA franchise loan for a Professional Carpet Systems franchise in 2002. We've got all the details on this Texas small business loan.

SBA Loan Borrower

PROFESSIONAL CARPET SYSTEMS
MIDLAND, TX 79701

SBA Loan Lender

SECURITY STATE BANK
200 N LORAINE, STE 100
MIDLAND, TX 79701

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

12/4/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Professional Carpet Systems franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, anyone can do it... so why not 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.

Related Links:

Professional Carpet Systems

Obtaining Funding - Getting Venture Capital

Where to Get an SBA Loan in Midland, Texas

Texas SBA 7A Lenders