Men's and Boys' Clothing and Furnishing Wholesalers Business Loans

Looking for business loans for men's and boys' clothing and furnishing wholesalers? Talk to a banker who works with the SBA. This $227,300 men's and boys' clothing and furnishing wholesalers loan was issued by a California bank.

This small business 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 2002. The lending bank was United Commercial Bank, based in Rosemead, California.

SBA Loan Borrower

COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND FURNISHING WHOLESALERS
COMMERCE, CA 90222

SBA Loan Lender

UNITED COMMERCIAL BANK
8632 E VALLEY BLVD
ROSEMEAD, CA 91770

This lender provides SBA guaranteed 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

422320 - Men's and Boys' Clothing and Furnishing Wholesalers

Loan Approval Date

2/22/2002

Loan Approval Gross Amount

$227,300

Loan Approval from the SBA

Of the total $227,300 loan amount, the SBA guaranteed $170,475.

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 75 employees. The loan application indicated that the loan would help retain 75 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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