Bank Loans for Men's Clothing Stores

With these bank loans for men's clothing stores, the SBA guarantees the lender that the loan will be repaid. This men's clothing stores loan for $425,000 was given to a Virginia entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Grow America Fund Inc, out of New York, New York. The loan was granted and they received $425,000 to help grow their Richmond, Virginia business.

SBA Loan Borrower

COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND FURNISHINGS
RICHMOND, VA 23219

SBA Loan Lender

GROW AMERICA FUND INC
708 THIRD AVENUE, SUITE 710
NEW YORK, NY 10017

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5136 - Men's and Boys' Clothing and Furnishings

NAICS Code

448110 - Men's Clothing Stores

Loan Approval Date

9/11/2003

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Grow America Fund Inc are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Bank Credit Lines

Where to Get an SBA Loan in New York, New York

Getting a Business Loan in New York