Business Loans for Men's and Boys' Clothing and Furnishing Wholesalers

Looking for business loans for men's and boys' clothing and furnishing wholesalers? The SBA may be the answer. This $262,500 men's and boys' clothing and furnishing wholesalers loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Los Angeles, California was able to borrow $262,500 from Center Bank. The SBA made the loan possible by guaranteeing $196,875 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND FURNISHINGS
LOS ANGELES, CA 90015

SBA Loan Lender

CENTER BANK
3435 WILSHIRE BLVD, STE 700
LOS ANGELES, CA 90010

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5136 - Men's and Boys' Clothing and Furnishings

NAICS Code

422320 - Men's and Boys' Clothing and Furnishing Wholesalers

Loan Approval Date

2/10/2000

Loan Approval Gross Amount

$262,500

Loan Approval from the SBA

Of the total $262,500 loan amount, the SBA guaranteed $196,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 8 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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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