Borrowing Money for Family Clothing Stores

With these bank loans for family clothing stores, the SBA guarantees the lender that the loan will be repaid. This family clothing stores loan for $137,840 was given to an Alabama entrepreneur in 2004.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Superior Bank, out of Gadsden, Alabama. The loan was granted and they received $137,840 to help grow their Gadsden, Alabama business.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
GADSDEN, AL 35901

SBA Loan Lender

SUPERIOR BANK
701 FORREST AVE
GADSDEN, AL 35901

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . 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

448140 - Family Clothing Stores

Loan Approval Date

3/15/2004

Loan Approval Gross Amount

$137,840

Loan Approval from the SBA

Of the total $137,840 loan amount, the SBA guaranteed $117,164.

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 3 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

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 Superior 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:

Obtaining Funding From a Venture Capitalist

Find an SBA Lender in Gadsden, Alabama

Alabama SBA Bank Lenders