Raising Money for Clothing Accessories Stores

With these business loans for clothing accessories stores, the SBA guarantees the lender that the loan will be repaid. This clothing accessories stores loan for $175,000 was given to a Texas entrepreneur in 2007.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Peoples Bank, out of Lubbock, Texas. The loan was granted and they received $175,000 to help grow their Odessa, Texas business.

SBA Loan Borrower

COMPANY TYPE: CLOTHING ACCESSORIES STORES
ODESSA, TX 79762

SBA Loan Lender

PEOPLES BANK
5820 82ND ST
LUBBOCK, TX 79424

The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

448150 - Clothing Accessories Stores

Loan Approval Date

5/10/2007

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $87,500.

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 7 employees. The SBA loan documents indicated that the loan would help create 7 new jobs.

Next Steps for Getting an SBA Loan

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Peoples Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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