Business Loans for Floor Covering Stores

With these business loans for floor covering stores, the SBA guarantees the lender that the loan will be repaid. This floor covering stores loan for $490,000 was given to a California entrepreneur in 2000.

This small business knew how to go about getting a business bank loan. Based in Santa Ana, California, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Wells Fargo Bank, based in Sioux Falls, South Dakota.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
SANTA ANA, CA 92704

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

When this loan was made, the lender was part of the SBA's Certified Lenders Program (CLP). This program is designed to offer rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5713 - Floor Covering Stores

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

12/1/2000

Loan Approval Gross Amount

$490,000

Loan Approval from the SBA

Of the total $490,000 loan amount, the SBA guaranteed $367,500.

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 20 employees. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to borrow money from friends and family, 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.

Related Links:

Business Cash Advances

Where to Get an SBA Loan in Sioux Falls, South Dakota

SBA South Dakota Banks