Small Business Loans for Cut and Sew Apparel Manufacturing

Looking for small business loans for cut and sew apparel manufacturing? Try the SBA. This $600,000 cut and sew apparel manufacturing loan was issued by a New Hampshire bank.

This company knew how to go about getting a business bank loan. Based in Conway, New Hampshire, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Northway Bank, based in Berlin, New Hampshire.

SBA Loan Borrower

COMPANY TYPE: APPAREL AND ACCESSORIES
CONWAY, NH 03818

SBA Loan Lender

NORTHWAY BANK
9 MAIN ST
BERLIN, NH 03570

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2389 - Apparel and Accessories

NAICS Code

315299 - Cut and Sew Apparel Manufacturing

Loan Approval Date

5/23/2001

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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. The loan application did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 Northway Bank 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.

Related Links:

Small Business Loan

Small Bank Loans in Berlin, New Hampshire

Getting an SBA Loan in New Hampshire