Raising Money for Cut and Sew Apparel Manufacturing

With these business loans for cut and sew apparel manufacturing, the SBA guarantees the lender that the loan will be repaid. This cut and sew apparel manufacturing loan for $105,700 was given to a California entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Los Angeles, California was able to borrow $105,700 from Pacific Western Bank. The SBA made the loan possible by guaranteeing $79,275 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: CUT AND SEW APPAREL MANUFACTURING
LOS ANGELES, CA 92023

SBA Loan Lender

PACIFIC WESTERN BANK
9454 WILSHIRE BLVD
BEVERLY HILLS, CA 90212

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

315299 - Cut and Sew Apparel Manufacturing

Loan Approval Date

11/28/2000

Loan Approval Gross Amount

$105,700

Loan Approval from the SBA

Of the total $105,700 loan amount, the SBA guaranteed $79,275.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 24 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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