Where to Get Capital for Clothing Stores

With these small business loans for clothing stores, the SBA guarantees the lender that the loan will be repaid. This clothing stores loan for $105,000 was given to a Pennsylvania entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bellefonte, Pennsylvania was able to borrow $105,000 from Nittany Bank, A Division Of. The SBA made the loan possible by guaranteeing $89,250 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
BELLEFONTE, PA 16823

SBA Loan Lender

NITTANY BANK, A DIVISION OF
116 E COLLEGE AVE
STATE COLLEGE, PA 16801

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448190 - Clothing Stores

Loan Approval Date

9/19/2005

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

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 only one employee. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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SBA 7A Banks in State College, Pennsylvania

Getting an SBA Loan in Pennsylvania