How to Get a Loan for Clothing Stores

Looking for commercial loans for clothing stores? Try the SBA. This $50,000 clothing stores loan was issued by an Indiana bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with National Bank - Indianapolis, out of Indianapolis, Indiana. The loan was granted and they received $50,000 to help grow their Carmel, Indiana business.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
CARMEL, IN 46032

SBA Loan Lender

NATIONAL BANK - INDIANAPOLIS
107 N PENNSYLVANIA ST
INDIANAPOLIS, IN 46204

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

448190 - Clothing Stores

Loan Approval Date

10/22/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $37,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 8 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into National Bank - Indianapolis and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 for Indianapolis, Indiana Loans

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