Carpet and Upholstery Cleaning Services Business Loans

Looking for business loans for carpet and upholstery cleaning services? Talk to a banker who works with the SBA. This $93,000 carpet and upholstery cleaning services loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Ulm, Minnesota was able to borrow $93,000 from United Minnesota Bank. The SBA made the loan possible by guaranteeing $79,050 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: CARPET AND UPHOLSTERY CLEANING SERVICES
NEW ULM, MN 56073

SBA Loan Lender

UNITED MINNESOTA BANK
105 CENTRAL AVE
NEW LONDON, MN 56273

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

6/25/2002

Loan Approval Gross Amount

$93,000

Loan Approval from the SBA

Of the total $93,000 loan amount, the SBA guaranteed $79,050.

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 8 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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:

Debt Financing

Small Bank Loans in New London, Minnesota

Minnesota SBA 7A Lenders