Men's Clothing Stores Small Business Loans

Looking for small business loans for men's clothing stores? The SBA may be the answer. This $85,000 men's clothing stores loan was issued by an Oklahoma bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Altus, Oklahoma was able to borrow $85,000 from 1st National Bank In Altus. The SBA made the loan possible by guaranteeing $72,250 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND ACCESSORY STORES
ALTUS, OK 73521

SBA Loan Lender

1ST NATIONAL BANK IN ALTUS
110 E BROADWAY
ALTUS, OK 73521

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5611 - Men's and Boys' Clothing and Accessory Stores

NAICS Code

448110 - Men's Clothing Stores

Loan Approval Date

2/10/2003

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

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 5 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like 1st National Bank In Altus that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

Related Links:

Getting a Small Business Loan

Small Bank Loans in Altus, Oklahoma

Oklahoma SBA Bank Lenders