Loans for Carpet and Rug Mills

Looking for loans for carpet and rug mills? The SBA may be the answer. This $100,000 carpet and rug mills loan was issued by a South Carolina bank.

This small firm knew how to go about getting a business bank loan. Based in Rock Hill, South Carolina, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Carolina First Bank, based in Rock Hill, South Carolina.

SBA Loan Borrower

COMPANY TYPE: CARPETS AND RUGS
ROCK HILL, SC 29732

SBA Loan Lender

CAROLINA FIRST BANK
315 E MAIN ST
ROCK HILL, SC 29730

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2273 - Carpets and Rugs

NAICS Code

314110 - Carpet and Rug Mills

Loan Approval Date

3/20/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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