How to Get a Loan for Floor Covering Stores

Looking for business loans for floor covering stores? An SBA loan may be just what you've been looking for. This $812,800 floor covering stores loan was issued by a New Jersey bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rocky Mount, North Carolina was able to borrow $812,800 from Cit Small Business Lending Corp. The SBA made the loan possible by guaranteeing $609,600 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
ROCKY MOUNT, NC 27804

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

12/18/2001

Loan Approval Gross Amount

$812,800

Loan Approval from the SBA

Of the total $812,800 loan amount, the SBA guaranteed $609,600.

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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Raising Venture Capital

SBA Banks in Livingston, New Jersey

SBA Participating Banks in New Jersey