How to Get a Loan for Children's and Infants' Clothing Stores

Looking for business loans for children's and infants' clothing stores? Talk to a banker who works with the SBA. This $39,000 children's and infants' clothing stores loan was issued by an Illinois bank.

This small business knew how to go about getting a business bank loan. Based in Freeport, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was State Bank, based in Freeport, Illinois.

SBA Loan Borrower

COMPANY TYPE: CHILDREN'S AND INFANTS' WEAR STORES
FREEPORT, IL 61032

SBA Loan Lender

STATE BANK
1718 S DIRCK DR
FREEPORT, IL 61032

This was a Low Documentation SBA loan. The SBA launched 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. 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.

SIC Code

5641 - Children's and Infants' Wear Stores

NAICS Code

448130 - Children's and Infants' Clothing Stores

Loan Approval Date

10/20/2003

Loan Approval Gross Amount

$39,000

Loan Approval from the SBA

Of the total $39,000 loan amount, the SBA guaranteed $33,150.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like State Bank and they will explain how you can get an SBA loan for your company.

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:

Business Line of Credit

Where to Get an SBA Loan in Freeport, Illinois

Find an SBA Lender in Illinois