Getting an SBA Loan for Floor Covering Stores

Looking for commercial loans for floor covering stores? The SBA may be the answer. This $25,000 floor covering stores loan was issued by an Oklahoma bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Oklahoma City, Oklahoma was able to borrow $25,000 from Arvest Bank. The SBA made the loan possible by guaranteeing $12,500 of this Oklahoma small business loan.

SBA Loan Borrower

Factory Direct Carpet, L.L.C.
100 N. Rockwell
Oklahoma City, OK 73128

SBA Loan Lender

ARVEST BANK
3409 S PEORIA AVE, STE 1
TULSA, OK 74105

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

442210 - Floor Covering Stores

Loan Approval Date

11/9/2006

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, Factory Direct Carpet, L.L.C., 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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

If Factory Direct Carpet, L.L.C. can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Getting a Small Business Loan

Best Tulsa, Oklahoma Banks for Small Business

SBA Oklahoma Lenders

If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.