Loan to Buy Carpet Today Franchise Issued By Austin Bank Texas

Borrowing money to purchase a Carpet Today franchise? Austin Bank Texas has a history of making these loans and they are guaranteed by the SBA.

If you live near Tyler, Texas and are interested in buying a Carpet Today franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Austin Bank Texas. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

CARPET TODAY
TYLER, TX 75703

SBA Loan Lender

AUSTIN BANK TEXAS
611 S BECKHAM
TYLER, TX 75701

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

3/12/2001

Loan Approval Gross Amount

$61,300

Loan Approval from the SBA

Of the total $61,300 loan amount, the SBA guaranteed $52,105.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Carpet Today franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the company promised 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?

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Austin Bank Texas had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Austin Bank Texas made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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