Commercial Loans for Family Clothing Stores

Looking for commercial loans for family clothing stores? Talk to a banker who works with the SBA. This $10,000 family clothing stores loan was issued by a North Carolina bank.

This small business knew how to go about getting a business bank loan. Based in Hurricane Mills, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Bank Of America, based in Charlotte, North Carolina.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
HURRICANE MILLS, TN 37078

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

448140 - Family Clothing Stores

Loan Approval Date

7/6/2004

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

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 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Hurricane Mills TN, you ought to talk with a local Hurricane Mills SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hurricane Mills businesses.

This SBA loan was for $10,000. How would you spend $10,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Understanding Dilution

SBA Participating Banks in Charlotte, North Carolina

North Carolina SBA 7A Banks