Floor Laying and Floor Contractors Commercial Loans
Looking for commercial loans for floor laying and floor contractors? The SBA may be the answer. This $1,350,000 floor laying and floor contractors loan was issued by a New York bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Richardson, Texas was able to borrow $1,350,000 from Banco Popular North America. The SBA made the loan possible by guaranteeing $999,999 of this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: FLOOR LAYING AND FLOOR CONTRACTORS
RICHARDSON, TX 75081
SBA Loan Lender
BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
235520 - Floor Laying and Floor Contractors
Loan Approval Date
12/31/2001
Loan Approval Gross Amount
$1,350,000
Loan Approval from the SBA
Of the total $1,350,000 loan amount, the SBA guaranteed $999,999.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 4 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 8 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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:
Bank Credit Lines
Banks in New York City, New York
SBA Lenders in New York