Borrowing Money for Carpet and Upholstery Cleaning Services

Looking for small business loans for carpet and upholstery cleaning services? Talk to a banker who works with the SBA. This $123,000 carpet and upholstery cleaning services loan was issued by a Washington bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tacoma, Washington was able to borrow $123,000 from Peoples Bank. The SBA made the loan possible by guaranteeing $92,250 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: CARPET AND UPHOLSTERY CLEANING SERVICES
TACOMA, WA 98446

SBA Loan Lender

PEOPLES BANK
418 GROVER ST
LYNDEN, WA 98264

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

12/21/2007

Loan Approval Gross Amount

$123,000

Loan Approval from the SBA

Of the total $123,000 loan amount, the SBA guaranteed $92,250.

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 only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Peoples Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Understanding Dilution

SBA Participating Banks in Lynden, Washington

Where to Get an SBA Loan Washington