Where to Get Capital for Clothing Stores

With these small business loans for clothing stores, the SBA guarantees the lender that the loan will be repaid. This clothing stores loan for $50,900 was given to a North Dakota entrepreneur in 2002.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with American Bank Center, out of Dickinson, North Dakota. The loan was granted and they received $50,900 to help grow their Dickinson, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
DICKINSON, ND 58601

SBA Loan Lender

AMERICAN BANK CENTER
140 FIRST AVE WEST
DICKINSON, ND 58601

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448190 - Clothing Stores

Loan Approval Date

2/21/2002

Loan Approval Gross Amount

$50,900

Loan Approval from the SBA

Of the total $50,900 loan amount, the SBA guaranteed $43,265.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,900 loan. Remember, if it to be, it is up to me!

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:

Bank Credit Lines

Good Banks for Small Business in Dickinson, North Dakota

Getting an SBA Loan in North Dakota