Getting an SBA Loan for Clothing Accessories Stores

Looking for business loans for clothing accessories stores? An SBA loan may be just what you've been looking for. This $520,000 clothing accessories stores loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in Bloomington, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Boundary Waters Bank, based in Blaine, Minnesota.

SBA Loan Borrower

COMPANY TYPE: CLOTHING ACCESSORIES STORES
BLOOMINGTON, MN 55425

SBA Loan Lender

BOUNDARY WATERS BANK
11800 ABERDEEN ST, STE 120
BLAINE, MN 55449

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448150 - Clothing Accessories Stores

Loan Approval Date

7/2/2003

Loan Approval Gross Amount

$520,000

Loan Approval from the SBA

Of the total $520,000 loan amount, the SBA guaranteed $390,000.

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 4 employees. The SBA loan application for the borrower did not indicate that the small business 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?

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $520,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Business Cash Advances

Small Bank Loans in Blaine, Minnesota

Where to Get an SBA Loan Minnesota