Floor Covering Stores Small Business Loans

With these small business loans for floor covering stores, the SBA guarantees the lender that the loan will be repaid. This floor covering stores loan for $35,000 was given to a Florida entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Orange City, Florida was able to borrow $35,000 from Suntrust Bank. The SBA made the loan possible by guaranteeing $17,500 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
Orange City, FL 32763

SBA Loan Lender

SUNTRUST BANK
1001 SEMMES AVE, RVW 4323
RICHMOND, VA 23224

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

12/4/2006

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Suntrust Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Suntrust Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Obtaining Funding - How to Borrow Money

Find an SBA Lender in Richmond, Virginia

Where to Get an SBA Loan Virginia