Getting an SBA Loan for Apparel Accessories and Other Apparel Manufacturing

Looking for SBA loans for apparel accessories and other apparel manufacturing? The SBA may be the answer. This $1,117,500 apparel accessories and other apparel manufacturing loan was issued by a Texas bank.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Comerica Bank, out of Dallas, Texas. The loan was granted and they received $1,117,500 to help grow their Countryside, Illinois business.

SBA Loan Borrower

COMPANY TYPE: APPAREL ACCESSORIES AND OTHER APPAREL MANUFACTURING
COUNTRYSIDE, IL 60525

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This lender provides SBA 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

315999 - Apparel Accessories and Other Apparel Manufacturing

Loan Approval Date

5/12/2006

Loan Approval Gross Amount

$1,117,500

Loan Approval from the SBA

Of the total $1,117,500 loan amount, the SBA guaranteed $838,125.

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 SBA loan documents indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Comerica Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Comerica Bank 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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