Borrowing Money for Clothing Stores

Looking for loans for clothing stores? Talk to a banker who works with the SBA. This $72,531 clothing stores loan was issued by a South Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mitchell, South Dakota was able to borrow $72,531 from First Dakota National Bank. The SBA made the loan possible by guaranteeing $58,025 of this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
MITCHELL, SD 57301

SBA Loan Lender

FIRST DAKOTA NATIONAL BANK
500 E NORWAY
MITCHELL, SD 57301

When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program is designed to ensure quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5621 - Women's Clothing Stores

NAICS Code

448190 - Clothing Stores

Loan Approval Date

12/22/2000

Loan Approval Gross Amount

$72,531

Loan Approval from the SBA

Of the total $72,531 loan amount, the SBA guaranteed $58,025.

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

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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:

Accountant's Role in Securing Financing

Where to Get an SBA Loan in Mitchell, South Dakota

Getting an SBA Loan in South Dakota