Getting an SBA Loan for Family Clothing Stores

With these business loans for family clothing stores, the SBA guarantees the lender that the loan will be repaid. This family clothing stores loan for $800,000 was given to a New Jersey entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Atlantic City, New Jersey was able to borrow $800,000 from Business Lenders, LLC. The SBA made the loan possible by guaranteeing $600,000 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
ATLANTIC CITY, NJ 08401

SBA Loan Lender

BUSINESS LENDERS, LLC
50 STATE HOUSE SQUARE 5TH FL
HARTFORD, CT 06103

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

9/23/2002

Loan Approval Gross Amount

$800,000

Loan Approval from the SBA

Of the total $800,000 loan amount, the SBA guaranteed $600,000.

More Information on This SBA Loan

The borrower 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you need business start up money in Atlantic City NJ, you ought to talk with a local Atlantic City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Atlantic City businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Business Lenders, LLC are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Financing Your Business

Small Bank Loans in Hartford, Connecticut

SBA Connecticut Banks