Getting an SBA Loan for Clothing Stores

Looking for business loans for clothing stores? The SBA may be the answer. This $73,700 clothing stores loan was issued by a Georgia bank.

Getting a small business loan in Dothan, Alabama was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Wachovia Bank, operating out of Atlanta, Georgia. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
DOTHAN, AL 36301

SBA Loan Lender

WACHOVIA BANK
360 INTERSTATE NORTH PKWY, ST
ATLANTA, GA 30339

This was a Low Documentation SBA loan. The SBA created 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

4/9/2002

Loan Approval Gross Amount

$73,700

Loan Approval from the SBA

Of the total $73,700 loan amount, the SBA guaranteed $62,645.

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 4 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.

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

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Wachovia Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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