Where to Get Capital for Men's and Boys' Clothing and Furnishing Wholesalers

With these small business loans for men's and boys' clothing and furnishing wholesalers, the SBA guarantees the lender that the loan will be repaid. This men's and boys' clothing and furnishing wholesalers loan for $17,500 was given to a New York entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Binghamton, New York was able to borrow $17,500 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $13,125 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND FURNISHINGS
BINGHAMTON, NY 13905

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
58-68 EXCHANGE ST
BINGHAMTON, NY 13901

This lender issued this loan for a small business under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.

SIC Code

5136 - Men's and Boys' Clothing and Furnishings

NAICS Code

422320 - Men's and Boys' Clothing and Furnishing Wholesalers

Loan Approval Date

7/19/2000

Loan Approval Gross Amount

$17,500

Loan Approval from the SBA

Of the total $17,500 loan amount, the SBA guaranteed $13,125.

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. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Manufacturers & Traders Trust 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:

How to Raise Money

SBA 7A Banks in Binghamton, New York

Browse All Business Loan Sources for New York