How to Get a Loan for Family Clothing Stores

With these business loans for family clothing stores, the SBA guarantees the lender that the loan will be repaid. This family clothing stores loan for $50,500 was given to a Texas entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kermit, Texas was able to borrow $50,500 from West Texas National Bank. The SBA made the loan possible by guaranteeing $42,925 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
KERMIT, TX 79745

SBA Loan Lender

WEST TEXAS NATIONAL BANK
101 EAST AVE
KERMIT, TX 79745

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

448140 - Family Clothing Stores

Loan Approval Date

12/6/2002

Loan Approval Gross Amount

$50,500

Loan Approval from the SBA

Of the total $50,500 loan amount, the SBA guaranteed $42,925.

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 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Kermit TX, you ought to talk with a local Kermit SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Kermit businesses.

This SBA loan was for $50,500. How would you spend $50,500 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.

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