Sioux Falls, SD Entrepreneur Gets SBA Loan to Buy Abbey Carpet Franchise

Need a loan to purchase an Abbey Carpet franchise? First Premier Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Abbey Carpet franchise shouldn't be overly burdensome. In 2004, First Premier Bank issued an SBA franchise loan to an entrepreneur in Sioux Falls, South Dakota. Because Abbey Carpet was registered with the SBA's registry of franchises, this South Dakota small business loan was issued on an expedited basis.

SBA Loan Borrower

BLUE NEEDLE, INC.
SIOUX FALLS, SD 57105

SBA Loan Lender

FIRST PREMIER BANK
601 S MINNESOTA AVE
SIOUX FALLS, SD 57104

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

11/22/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Abbey Carpet franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Abbey Carpet

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