Where to Get Capital for Formal Wear and Costume Rental

With these SBA loans for formal wear and costume rental, the SBA guarantees the lender that the loan will be repaid. This formal wear and costume rental loan for $50,000 was given to a Georgia entrepreneur in 2007.

Getting a small business loan in Buford, Georgia was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Borrego Springs Bank, operating out of Borrego Springs, California. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: FORMAL WEAR AND COSTUME RENTAL
Buford, GA 30519

SBA Loan Lender

BORREGO SPRINGS BANK
587 PALM CANYON DR, STE 101
BORREGO SPRINGS, CA 92004

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532220 - Formal Wear and Costume Rental

Loan Approval Date

12/12/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Understanding Dilution

SBA Participating Banks in Borrego Springs, California

Getting a Business Loan in California