This company is a publicly traded corporation chartered under the laws of the State of Tennessee in July 1932. It has one wholly owned subsidiary that was chartered in the state of Georgia in April 2003. Jointly they manufacture high-end rugs and carpets.
Today, the business in primarily concentrated in areas of the soft floorcovering markets which include broadloom carpet, carpet tiles and rugs. However, over the past few years, there has been a significant shift in the flooring marketplace as hard surface products have grown at a rate much faster than soft surface products. They have responded to this shift to hard surface flooring by launching several initiatives in both its residential and commercial brands. Both lines now offer luxury vinyl flooring.
The company has 6 locations across Alabama and Georgia all of which are in eligible rural areas under the USDA Business and Industry Guaranteed Loan Program. Its premier manufacturing facility which employees 275 associates is located in Alabama.
| Loan ID | 126 |
| DSCR | 1.04 |
| LTV | 68.00 |
| Note Rate | 5.00 |
| Property Location | AL |
| Type | 314110 |
| Guaranty Type | USDA CARES |
| Loan Term | 10 yrs |
| Rate type | Var |
| Note date | N/A |
| Maturity date | N/A |
| Participation Availability Amount | $0 |
| Minimum Participation Amount | $250,000 |
| Original Loan Amount | $15,000,000 |
| Full Loan Documentation | Link |
| Inquire | Inquire |