Clothing Stores Loans

With these loans for clothing stores, the SBA guarantees the lender that the loan will be repaid. This clothing stores loan for $100,000 was given to a South Carolina entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Boiling Springs, South Carolina was able to borrow $100,000 from First Cit. Bank & Trust Inc. The SBA made the loan possible by guaranteeing $85,000 of this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S ACCESSORY AND SPECIALTY STORES
BOILING SPRINGS, SC 29316

SBA Loan Lender

FIRST CIT. BANK & TRUST INC
928 N PLEASANTBURG DR
GREENVILLE, SC 29607

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5632 - Women's Accessory and Specialty Stores

NAICS Code

448190 - Clothing Stores

Loan Approval Date

1/23/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

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 $100,000 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:

The Friends and Family Network

SBA Participating Banks in Greenville, South Carolina

South Carolina SBA 7A Banks