Financing for Clothing Stores

Looking for commercial loans for clothing stores? The SBA may be the answer. This $120,000 clothing stores loan was issued by a Massachusetts bank.

Getting a small business loan in Middleton, Massachusetts was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from North Shore Bank A Cooperative, operating out of Peabody, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
MIDDLETON, MA 01949

SBA Loan Lender

NORTH SHORE BANK A COOPERATIVE
32 MAIN ST
PEABODY, MA 01960

This lender issued this particular business 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

448190 - Clothing Stores

Loan Approval Date

9/16/2004

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. North Shore Bank A Cooperative had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, North Shore Bank A Cooperative made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

504 Loans

Small Business Banks in Peabody, Massachusetts

Where to Get an SBA Loan Massachusetts