Business Loans for Family Clothing Stores

Looking for business loans for family clothing stores? The SBA may be the answer. This $93,300 family clothing stores loan was issued by a Texas bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with West Texas National Bank, out of Kermit, Texas. The loan was granted and they received $93,300 to help grow their Kermit, Texas business.

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

$93,300

Loan Approval from the SBA

Of the total $93,300 loan amount, the SBA guaranteed $79,305.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like West Texas National Bank and they will explain how you can get an SBA loan for your company.

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:

Accountant's Role in Securing Financing

Where to Get an SBA Loan in Kermit, Texas

Texas SBA Banks