Financing for Children's and Infants' Clothing Stores

With these commercial loans for children's and infants' clothing stores, the SBA guarantees the lender that the loan will be repaid. This children's and infants' clothing stores loan for $143,000 was given to a Louisiana entrepreneur in 2001.

This business knew how to go about getting a business bank loan. Based in Harvey, Louisiana, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Mississippi River Bank, based in Belle Chasse, Louisiana.

SBA Loan Borrower

COMPANY TYPE: CHILDREN'S AND INFANTS' CLOTHING STORES
HARVEY, LA 70058

SBA Loan Lender

MISSISSIPPI RIVER BANK
8435 HWY 23
BELLE CHASSE, LA 70037

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448130 - Children's and Infants' Clothing Stores

Loan Approval Date

8/28/2001

Loan Approval Gross Amount

$143,000

Loan Approval from the SBA

Of the total $143,000 loan amount, the SBA guaranteed $121,550.

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 only one employee. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Mississippi River 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:

Alternative Financing

SBA Participating Banks in Belle Chasse, Louisiana

Getting an SBA Loan in Louisiana