SBA Loan from Arvest Bank Helps Carpet Renovations, Inc.

An SBA loan from Arvest Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Tulsa, Oklahoma business owner got a $29,300 loan.

Carpet Renovations, Inc. received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Arvest Bank, out of Fayetteville, Arkansas. The loan was granted and they received $29,300 to help grow their Tulsa, Oklahoma business.

SBA Loan Borrower

Carpet Renovations, Inc.
1210 S. Hudson
Tulsa, OK 74112

SBA Loan Lender

ARVEST BANK
75 N EAST AVE
FAYETTEVILLE, AR 72701

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

11/17/2004

Loan Approval Gross Amount

$29,300

Loan Approval from the SBA

Of the total $29,300 loan amount, the SBA guaranteed $14,650.

More Information on This SBA Loan

The borrower, Carpet Renovations, Inc., 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 did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. This loan was paid in full, and was closed out on 7/31/2007.

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 Carpet Renovations, Inc. 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.

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