Financing for Women's Clothing Stores

With these commercial loans for women's clothing stores, the SBA guarantees the lender that the loan will be repaid. This women's clothing stores loan for $40,799 was given to a North Carolina entrepreneur in 2002.

This business knew how to go about getting a business bank loan. Based in Raleigh, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was First-Citizens Bank & Trust, based in Raleigh, North Carolina.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
RALEIGH, NC 27604

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
4300 SIX FORKS RD
RALEIGH, NC 27609

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

448120 - Women's Clothing Stores

Loan Approval Date

7/31/2002

Loan Approval Gross Amount

$40,799

Loan Approval from the SBA

Of the total $40,799 loan amount, the SBA guaranteed $20,399.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The SBA loan documents indicated that the borrowed money would help create 3 new jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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