Commercial Loans for Men's and Boys' Clothing and Furnishing Wholesalers

With these commercial loans for men's and boys' clothing and furnishing wholesalers, the SBA guarantees the lender that the loan will be repaid. This men's and boys' clothing and furnishing wholesalers loan for $939,000 was given to a New Mexico entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Albuquerque, New Mexico was able to borrow $939,000 from Sunrise Bank Of Arizona. The SBA made the loan possible by guaranteeing $704,250 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND FURNISHING WHOLESALERS
ALBUQUERQUE, NM 87107

SBA Loan Lender

SUNRISE BANK OF ARIZONA
4350 E CAMELBACK RD, STE 100
PHOENIX, AZ 85018

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422320 - Men's and Boys' Clothing and Furnishing Wholesalers

Loan Approval Date

2/23/2001

Loan Approval Gross Amount

$939,000

Loan Approval from the SBA

Of the total $939,000 loan amount, the SBA guaranteed $704,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 10 existing jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Sunrise Bank Of Arizona so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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