How to Get a Loan for Family Clothing Stores

With these business loans for family clothing stores, the SBA guarantees the lender that the loan will be repaid. This family clothing stores loan for $18,750 was given to a Tennessee entrepreneur in 2001.

This small business knew how to go about getting a business bank loan. Based in Dyersburg, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was First-Citizens National Bank, based in Dyersburg, Tennessee.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
DYERSBURG, TN 38024

SBA Loan Lender

FIRST-CITIZENS NATIONAL BANK
ONE FIRST CITIZENS PL
DYERSBURG, TN 38024

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5651 - Family Clothing Stores

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

7/25/2001

Loan Approval Gross Amount

$18,750

Loan Approval from the SBA

Of the total $18,750 loan amount, the SBA guaranteed $15,937.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Financing Your Business

SBA Participating Banks in Dyersburg, Tennessee

Tennessee SBA Banks