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

Looking for SBA loans for apparel accessories and other apparel manufacturing? The SBA may be the answer. This $950,000 apparel accessories and other apparel manufacturing loan was issued by a New Hampshire bank.

This small business knew how to go about getting a business bank loan. Based in Barre, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Mascoma Savings Bank, based in Lebanon, New Hampshire.

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

This lender issued this SBA bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

12/19/2002

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $712,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Mascoma Savings Bank 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.

Related Links:

Startup Funding Tip

Small Bank Loans in Lebanon, New Hampshire

SBA Lenders in New Hampshire