Loan to Buy Plato's Closet Franchise Issued By Wyoming Bank & Trust

Need money to invest in a Plato's Closet franchise? Wyoming Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Plato's Closet franchise loans are available to Cheyenne, Wyoming entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Wyoming Bank & Trust, based in Cheyenne, Wyoming, issued an SBA franchise loan for a Plato's Closet franchise in 2002. We've got all the details on this Wyoming small business loan.

SBA Loan Borrower

PLATO'S CLOSET
CHEYENNE, WY 82009

SBA Loan Lender

WYOMING BANK & TRUST
5827 YELLOWSTONE RD
CHEYENNE, WY 82009

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448190 - Clothing Stores

Loan Approval Date

12/26/2002

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Plato's Closet franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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:

Plato's Closet

Obtaining Funding - Getting Venture Capital

SBA Participating Banks in Cheyenne, Wyoming

Find an SBA Lender in Wyoming