Michigan Entrepreneur Secures Financing to Buy Stone Mountain Carpet Mill Outlet Franchise

Need a loan to buy a Stone Mountain Carpet Mill Outlet franchise? Mercantile Bank Of Michigan has a history of making these loans and they are guaranteed by the SBA.

Stone Mountain Carpet Mill Outlet franchise loans are available to Wyoming, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Mercantile Bank Of Michigan, based in Grand Rapids, Michigan, issued an SBA franchise loan for a Stone Mountain Carpet Mill Outlet franchise in 2007. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

J & P RETAIL GROUP INC
WYOMING, MI 49509

SBA Loan Lender

MERCANTILE BANK OF MICHIGAN
310 LEONARD ST NW
GRAND RAPIDS, MI 49504

This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began 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

442210 - Floor Covering Stores

Loan Approval Date

10/15/2007

Loan Approval Gross Amount

$185,000

Loan Approval from the SBA

Of the total $185,000 loan amount, the SBA guaranteed $138,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Stone Mountain Carpet Mill Outlet franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Mercantile Bank Of Michigan and they will explain how you can get an SBA loan for your company.

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:

Stone Mountain / GCO Flooring Outlets

Family and Friend Investors - Your First Financiers

Where to Get an SBA Loan in Grand Rapids, Michigan

SBA Lenders in Michigan