How to Get a Loan for Floor Covering Stores

With these commercial loans for floor covering stores, the SBA guarantees the lender that the loan will be repaid. This floor covering stores loan for $45,000 was given to a Mississippi entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Yazoo City, Mississippi was able to borrow $45,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $38,250 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
Yazoo City, MS 39194

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019

This lender issued this SBA bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

12/14/2007

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $45,000 loan. Remember, anyone can do it... so why not you?

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:

Getting a Small Business Loan

SBA 7A Banks for New York, New York Loans

Where to Get an SBA Loan New York