Utah Entrepreneur Secures Financing to Buy Ogden's Carpet Outlet Franchise

Need a loan to purchase an Ogden's Carpet Outlet franchise? Central Bank has a history of making these loans and they are guaranteed by the SBA.

Ogden's Carpet Outlet franchise loans are available to Spanish Fork, Utah entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Central Bank, based in Provo, Utah, issued an SBA franchise loan for an Ogden's Carpet Outlet franchise in 2004. We've got all the details on this Utah small business loan.

SBA Loan Borrower

OGDEN'S CARPET OUTLET
SPANISH FORK, UT 84660

SBA Loan Lender

CENTRAL BANK
75 N UNIVERSITY AVE
PROVO, UT 84601

This debt financing 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.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

12/16/2004

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 Ogden's Carpet Outlet franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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