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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Ithaca, Business Loans > Alternatives Fcu Ithaca Business Loans > Women's And Children's Clothing Loan | ||||
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SBA 7A Banks for Ithaca Small Business Owners
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How to Get a Loan for Women's, Children's, and Infants' Clothing and Accessories WholesalersWith these commercial loans for women's, children's, and infants' clothing and accessories wholesalers, the SBA guarantees the lender that the loan will be repaid. This women's, children's, and infants' clothing and accessories wholesalers loan for $170,000 was given to a New York entrepreneur in 2000. This small business knew how to go about getting a business bank loan. Based in Ithaca, New York, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Alternatives Fcu, based in Ithaca, New York. SBA Loan Borrower COMPANY TYPE: WOMEN'S AND CHILDREN'S CLOTHING SBA Loan Lender ALTERNATIVES FCU The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5137 - Women's and Children's Clothing NAICS Code 422330 - Women's, Children's, and Infants' Clothing and Accessories Wholesalers Loan Approval Date 1/5/2000 Loan Approval Gross Amount $170,000 Loan Approval from the SBA Of the total $170,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. 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 important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Alternatives Fcu had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Alternatives Fcu made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Raising VC Money for Social Networking Companies SBA Approved Banks in Ithaca, New York
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