Get an SBA Loan for Clothing Stores

With these small business loans for clothing stores, the SBA guarantees the lender that the loan will be repaid. This clothing stores loan for $21,535 was given to a South Carolina entrepreneur in 2000.

This company knew how to go about getting a business bank loan. Based in North Augusta, South Carolina, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was First Cit. Bank & Trust Inc, based in North Augusta, South Carolina.

SBA Loan Borrower

COMPANY TYPE: APPAREL AND ACCESSORY STORES
NORTH AUGUSTA, SC 29841

SBA Loan Lender

FIRST CIT. BANK & TRUST INC
518 GEORGIA AVE
NORTH AUGUSTA, SC 29841

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5699 - Apparel and Accessory Stores

NAICS Code

448190 - Clothing Stores

Loan Approval Date

10/3/2000

Loan Approval Gross Amount

$21,535

Loan Approval from the SBA

Of the total $21,535 loan amount, the SBA guaranteed $17,228.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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