How to Get a Loan for Floor Covering Stores

Looking for SBA loans for floor covering stores? Talk to a banker who works with the SBA. This $250,000 floor covering stores loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in El Cajon, California was able to borrow $250,000 from Internatl City Bank. The SBA made the loan possible by guaranteeing $187,500 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
EL CAJON, CA 92020

SBA Loan Lender

INTERNATL CITY BANK
249 E OCEAN BLVD
LONG BEACH, CA 90802

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

3/21/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your 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 source of funding.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Internatl City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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