Men's and Boys' Cut and Sew Shirt Manufacturing Bank Loans

With these bank loans for men's and boys' cut and sew shirt manufacturing, the SBA guarantees the lender that the loan will be repaid. This men's and boys' cut and sew shirt manufacturing loan for $160,000 was given to a Pennsylvania entrepreneur in 2004.

This company knew how to go about getting a business bank loan. Based in Philadelphia, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Wachovia Bank, based in Charlotte, North Carolina.

SBA Loan Borrower

COMPANY TYPE: MEN'S AND BOYS' CUT AND SEW SHIRT MANUFACTURING
Philadelphia, PA 19148

SBA Loan Lender

WACHOVIA BANK
301 S COLLEGE ST MAIN LOBBY
CHARLOTTE, NC 28202

The lender provided this debt financing 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

315223 - Men's and Boys' Cut and Sew Shirt Manufacturing

Loan Approval Date

9/30/2004

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $80,000.

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 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wachovia Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wachovia Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Advice on Getting a Small Business Loan

SBA 7A Banks in Charlotte, North Carolina

North Carolina SBA Banks