Borrowing Money for Clothing Accessories Stores

Looking for loans for clothing accessories stores? An SBA loan may be just what you've been looking for. This $50,000 clothing accessories stores loan was issued by a Missouri bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Memphis, Tennessee was able to borrow $50,000 from First State Bank Of Joplin. The SBA made the loan possible by guaranteeing $42,500 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING ACCESSORIES STORES
MEMPHIS, TN 38125

SBA Loan Lender

FIRST STATE BANK OF JOPLIN
501 CROSS ST
SARCOXIE, MO 64862

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448150 - Clothing Accessories Stores

Loan Approval Date

7/1/2002

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 18 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First State Bank Of Joplin so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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