Sewing, Needlework, and Piece Goods Stores Business Loans

With these business loans for sewing, needlework, and piece goods stores, the SBA guarantees the lender that the loan will be repaid. This sewing, needlework, and piece goods stores loan for $47,500 was given to a Texas entrepreneur in 2000.

This business knew how to go about getting a business bank loan. Based in Midland, Texas, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Community National Bank, based in Midland, Texas.

SBA Loan Borrower

COMPANY TYPE: SEWING, NEEDLEWORK, AND PIECE GOODS STORES
MIDLAND, TX 79701

SBA Loan Lender

COMMUNITY NATIONAL BANK
401 W TEXAS, STE 100
MIDLAND, TX 79701

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5949 - Sewing, Needlework, and Piece Goods Stores

NAICS Code

451130 - Sewing, Needlework, and Piece Goods Stores

Loan Approval Date

5/22/2000

Loan Approval Gross Amount

$47,500

Loan Approval from the SBA

Of the total $47,500 loan amount, the SBA guaranteed $38,000.

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 6 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

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Find an SBA Lender in Midland, Texas

Getting an SBA Loan in Texas