Borrowing Money for Men's Clothing Stores

With these loans for men's clothing stores, the SBA guarantees the lender that the loan will be repaid. This men's clothing stores loan for $65,000 was given to a Michigan entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in Grand Blanc, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was The State Bank, based in Fenton, Michigan.

SBA Loan Borrower

COMPANY TYPE: MEN'S CLOTHING STORES
GRAND BLANC, MI 48439

SBA Loan Lender

THE STATE BANK
175 N LEROY ST
FENTON, MI 48430

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

448110 - Men's Clothing Stores

Loan Approval Date

4/10/2007

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $32,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 7 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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