Financing for Clothing Stores

Looking for commercial loans for clothing stores? An SBA loan may be just what you've been looking for. This $40,000 clothing stores loan was issued by a New Mexico bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with The Citizens Bank, out of Farmington, New Mexico. The loan was granted and they received $40,000 to help grow their Farmington, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
FARMINGTON, NM 87401

SBA Loan Lender

THE CITIZENS BANK
500 W BROADWAY
FARMINGTON, NM 87401

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448190 - Clothing Stores

Loan Approval Date

3/6/2002

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

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 3 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Citizens Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Debt Financing

Small Bank Loans in Farmington, New Mexico

New Mexico SBA 7A Lenders