Borrowing Money for Men's Clothing Stores

With these loans for men's clothing stores, the SBA guarantees the lender that the loan will be repaid. This men's clothing stores loan for $150,000 was given to an Arkansas entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Little Rock, Arkansas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Bank Of The Ozarks, based in Little Rock, Arkansas.

SBA Loan Borrower

COMPANY TYPE: MEN'S CLOTHING STORES
LITTLE ROCK, AR 72207

SBA Loan Lender

BANK OF THE OZARKS
12615 CHENAL PKWY
LITTLE ROCK, AR 72211

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448110 - Men's Clothing Stores

Loan Approval Date

5/30/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 4 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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