Raising 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 $57,000 was given to an Idaho entrepreneur in 2005.

Getting a small business loan in Pocatello, Idaho was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Citizens Community Bank, operating out of Pocatello, Idaho. Here are the details on this Idaho small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
POCATELLO, ID 83201

SBA Loan Lender

CITIZENS COMMUNITY BANK
280 S ARTHUR
POCATELLO, ID 83204

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

6/15/2005

Loan Approval Gross Amount

$57,000

Loan Approval from the SBA

Of the total $57,000 loan amount, the SBA guaranteed $48,450.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. 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 funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $57,000 loan. Remember, feel the fear, and do it anyway.

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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SBA 7A Lenders in Pocatello, Idaho

Getting an SBA Loan in Idaho