Borrowing Money for Floor Covering Stores

With these small business loans for floor covering stores, the SBA guarantees the lender that the loan will be repaid. This floor covering stores loan for $25,000 was given to a California entrepreneur in 2001.

Getting a small business loan in Culver City, California was important for Carpets Direct back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Citibank, operating out of Miami, Florida. Here are the details on this California small business loan.

SBA Loan Borrower

CARPETS DIRECT
5568 SEPULVEDA BLVD
CULVER CITY, CA 90230

SBA Loan Lender

CITIBANK
8750 DORAL BLVD, 7TH FL
MIAMI, FL 33178

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

442210 - Floor Covering Stores

Loan Approval Date

5/16/2001

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower, Carpets Direct, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs. This loan was paid in full, and was closed out on 9/29/2006.

Next Steps for Getting an SBA Loan

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.

Your solution for where to find money to start a business may be an SBA guaranteed loan. Carpets Direct 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 SBA loan database.

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