Raising Money for Family Clothing Stores

Looking for business loans for family clothing stores? An SBA loan may be just what you've been looking for. This $81,000 family clothing stores loan was issued by a North Carolina bank.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with The Fidelity Bank, out of Raleigh, North Carolina. The loan was granted and they received $81,000 to help grow their Raleigh, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: CHILDREN'S AND INFANTS' WEAR STORES
RALEIGH, NC 27606

SBA Loan Lender

THE FIDELITY BANK
2819 JONES FRANKLIN RD
RALEIGH, NC 27606

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

5641 - Children's and Infants' Wear Stores

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

8/5/2003

Loan Approval Gross Amount

$81,000

Loan Approval from the SBA

Of the total $81,000 loan amount, the SBA guaranteed $68,850.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This SBA loan was for $81,000. How would you spend $81,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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