Bank Loans for Formal Wear and Costume Rental

Looking for bank loans for formal wear and costume rental? An SBA loan may be just what you've been looking for. This $75,000 formal wear and costume rental loan was issued by a Michigan bank.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Fifth Third Bank, out of Grand Rapids, Michigan. The loan was granted and they received $75,000 to help grow their Fort Wayne, Indiana business.

SBA Loan Borrower

COMPANY TYPE: FORMAL WEAR AND COSTUME RENTAL
FORT WAYNE, IN 46845

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

532220 - Formal Wear and Costume Rental

Loan Approval Date

9/23/2005

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 2 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Fifth Third 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.

Related Links:

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SBA Banks in Grand Rapids, Michigan

Michigan SBA 7A Lenders