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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Clothing Stores Loan | ||||
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Tips for Small Business Owners On Getting a Loan
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Clothing Stores LoansLooking for loans for clothing stores? Talk to a banker who works with the SBA. This $50,000 clothing stores loan was issued by a New York bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Los Angeles, California was able to borrow $50,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $42,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448190 - Clothing Stores Loan Approval Date 12/18/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 Business Loan Center, LLC 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: SBA 7A Banks in New York, New York
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