Business Loans for Clothing Stores

With these business loans for clothing stores, the SBA guarantees the lender that the loan will be repaid. This clothing stores loan for $50,000 was given to a Virginia entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chester, Virginia was able to borrow $50,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $42,500 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
Chester, VA 23831

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
415 BECKRICH RD., STE 250
PANAMA CITY BEACH, FL 32407

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448190 - Clothing Stores

Loan Approval Date

11/6/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Business Line of Credit

SBA 7A Banks for Panama City Beach, Florida Loans

SBA Participating Banks in Florida