Floor Covering Stores Small Business Loans

Looking for small business loans for floor covering stores? Talk to a banker who works with the SBA. This $630,000 floor covering stores loan was issued by a Maryland bank.

This company knew how to go about getting a business bank loan. Based in Owings, Maryland, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Community Bank Of Tri-County, based in Waldorf, Maryland.

SBA Loan Borrower

COMPANY TYPE: OPTICAL GOODS STORES
OWINGS, MD 20736

SBA Loan Lender

COMMUNITY BANK OF TRI-COUNTY
3035 LEONARDTOWN RD
WALDORF, MD 20601

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5995 - Optical Goods Stores

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

7/23/2003

Loan Approval Gross Amount

$630,000

Loan Approval from the SBA

Of the total $630,000 loan amount, the SBA guaranteed $472,500.

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 45 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community Bank Of Tri-County and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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Small Bank Loans in Waldorf, Maryland

Find an SBA Lender in Maryland