Plains Commerce Bank Provides SBA Loan to Buy Professional Carpet Systems Franchise

Borrowing money to purchase a Professional Carpet Systems franchise? Plains Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Sioux Falls, South Dakota and are interested in buying a Professional Carpet Systems franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Plains Commerce Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

PROFESSIONAL CARPET & CLEANING
SIOUX FALLS, SD 57104

SBA Loan Lender

PLAINS COMMERCE BANK
220 MAIN ST
HOVEN, SD 57450

This lender issued this SBA business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

11/9/2007

Loan Approval Gross Amount

$212,500

Loan Approval from the SBA

Of the total $212,500 loan amount, the SBA guaranteed $159,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Professional Carpet Systems franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help generate 1 new job and retain 6 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Professional Carpet Systems

SBIR Funding

Where to Get an SBA Loan in Hoven, South Dakota

South Dakota SBA 7A Lenders