How to Get a Loan for Floor Covering Stores

Looking for SBA loans for floor covering stores? Talk to a banker who works with the SBA. This $150,000 floor covering stores loan was issued by a Florida bank.

This small business knew how to go about getting a business bank loan. Based in Port Saint Lucie, Florida, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Riverside National Bank - Florida, based in Fort Pierce, Florida.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
PORT SAINT LUCIE, FL 32960

SBA Loan Lender

RIVERSIDE NATIONAL BANK - FLORIDA
2211 OKEECHOBEE RD
FORT PIERCE, FL 34950

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

6/5/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 23 employees. The loan application indicated that the loan would help retain 23 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Riverside National Bank - Florida 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:

Business Incubators

Best Banks in Fort Pierce, Florida

Getting a Business Loan in Florida