Borrowing Money for Clothing Stores

With these loans for clothing stores, the SBA guarantees the lender that the loan will be repaid. This clothing stores loan for $37,000 was given to a Georgia entrepreneur in 2004.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Citizens Bank & Tr - W. Georgia, out of Carrollton, Georgia. The loan was granted and they received $37,000 to help grow their Carrollton, Georgia business.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
CARROLLTON, GA 30117

SBA Loan Lender

CITIZENS BANK & TR - W. GEORGIA
115 COLLEGE ST
CARROLLTON, GA 30117

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448190 - Clothing Stores

Loan Approval Date

1/23/2004

Loan Approval Gross Amount

$37,000

Loan Approval from the SBA

Of the total $37,000 loan amount, the SBA guaranteed $31,450.

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 2 employees. The loan application indicated that the loan would help create 2 new jobs.

Next Steps for Getting an SBA Loan

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens Bank & Tr - W. Georgia had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens Bank & Tr - W. Georgia made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Choosing VC Firms

Banks in Carrollton, Georgia

SBA Participating Banks in Georgia