Fayetteville, NC Entrepreneur Gets SBA Loan to Buy Sears Carpet & Upholstery Care Franchise

Borrowing money to invest in a Sears Carpet & Upholstery Care franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sears Carpet & Upholstery Care franchise requires some effort but others before you have been successful. In 2003, Newtek Small Business Finance Inc. issued an SBA franchise loan to an entrepreneur in Fayetteville, North Carolina. Because Sears Carpet & Upholstery Care was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

SEARS CARPET AND UPHOLSTERY CA
FAYETTEVILLE, NC 28304

SBA Loan Lender

NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

9/16/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sears Carpet & Upholstery Care franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 1 new job.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Newtek Small Business Finance Inc. 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.

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Sears Carpet & Upholstery Care, Inc.

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