Borrowing Money for Women's Clothing Stores

With these bank loans for women's clothing stores, the SBA guarantees the lender that the loan will be repaid. This women's clothing stores loan for $126,000 was given to a Colorado entrepreneur in 2004.

Getting a small business loan in Montrose, Colorado was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Montrose Bank, operating out of Montrose, Colorado. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
MONTROSE, CO 81401

SBA Loan Lender

MONTROSE BANK
200 N TOWNSEND AVE
MONTROSE, CO 81401

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.

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

3/25/2004

Loan Approval Gross Amount

$126,000

Loan Approval from the SBA

Of the total $126,000 loan amount, the SBA guaranteed $107,100.

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 4 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

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:

Obtaining Funding - How to Decide How Much to Raise

Good Banks for Small Business in Montrose, Colorado

Getting a Business Loan in Colorado