Women's Clothing Stores Business Loans

With these business loans for women's clothing stores, the SBA guarantees the lender that the loan will be repaid. This women's clothing stores loan for $76,800 was given to a Maryland entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gaithersburg, Maryland was able to borrow $76,800 from Provident Bank Of Maryland. The SBA made the loan possible by guaranteeing $65,280 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
GAITHERSBURG, MD 20878

SBA Loan Lender

PROVIDENT BANK OF MARYLAND
114 E LEXINGTON ST
BALTIMORE, MD 21202

This lender issued this particular commercial 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.

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

8/13/2004

Loan Approval Gross Amount

$76,800

Loan Approval from the SBA

Of the total $76,800 loan amount, the SBA guaranteed $65,280.

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 only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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