Financing for Clothing Accessories Stores

With these loans for clothing accessories stores, the SBA guarantees the lender that the loan will be repaid. This clothing accessories stores loan for $140,000 was given to a Virginia entrepreneur in 2003.

Getting a small business loan in Richmond, Virginia was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Citizens & Farmers Bank, operating out of Midlothian, Virginia. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: APPAREL AND ACCESSORY STORES
RICHMOND, VA 23235

SBA Loan Lender

CITIZENS & FARMERS BANK
1400 ALVERSER DR, C & F CENTE
MIDLOTHIAN, VA 23112

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5699 - Apparel and Accessory Stores

NAICS Code

448150 - Clothing Accessories Stores

Loan Approval Date

2/14/2003

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Citizens & Farmers Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 Midlothian, Virginia

Virginia SBA 7A Lenders