Borrowing Money for Apparel Accessories and Other Apparel Manufacturing
With these bank loans for apparel accessories and other apparel manufacturing, the SBA guarantees the lender that the loan will be repaid. This apparel accessories and other apparel manufacturing loan for $329,700 was given to a California entrepreneur in 2001.
This small firm knew how to go about getting a business bank loan. Based in Commerce, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Banco Popular North America, based in New York City, New York.
SBA Loan Borrower
COMPANY TYPE: APPAREL ACCESSORIES AND OTHER APPAREL MANUFACTURING
COMMERCE, CA 90040
SBA Loan Lender
BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
315999 - Apparel Accessories and Other Apparel Manufacturing
Loan Approval Date
6/28/2001
Loan Approval Gross Amount
$329,700
Loan Approval from the SBA
Of the total $329,700 loan amount, the SBA guaranteed $247,275.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 35 employees. This SBA loan request indicated that the loan would help retain 35 existing jobs.
Start the Process for Getting an SBA Loan Today!
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Banco Popular North America had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Banco Popular North America 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.
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