How to Get a Loan for Apparel Accessories and Other Apparel Manufacturing

With these commercial loans for apparel accessories and other apparel manufacturing, the SBA guarantees the lender that the loan will be repaid. This apparel accessories and other apparel manufacturing loan for $750,000 was given to a Vermont entrepreneur in 2001.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Mascoma Savings Bank, out of Lebanon, New Hampshire. The loan was granted and they received $750,000 to help grow their Barre, Vermont business.

SBA Loan Borrower

COMPANY TYPE: APPAREL ACCESSORIES AND OTHER APPAREL MANUFACTURING
BARRE, VT 05641

SBA Loan Lender

MASCOMA SAVINGS BANK
67 N PARK ST
LEBANON, NH 03766

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

315999 - Apparel Accessories and Other Apparel Manufacturing

Loan Approval Date

4/5/2001

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

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 documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Mascoma Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Mascoma Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Realistic Debt Financing Options

Good Banks for Small Business in Lebanon, New Hampshire

New Hampshire SBA 7A Lenders