Where to Get Capital for Hat, Cap, and Millinery Manufacturing

Looking for small business loans for hat, cap, and millinery manufacturing? Try the SBA. This $1,300,000 hat, cap, and millinery manufacturing loan was issued by a Pennsylvania bank.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Susquehanna Bank Dv, out of Pottstown, Pennsylvania. The loan was granted and they received $1,300,000 to help grow their Runnemede, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: HATS, CAPS, AND MILLINERY
RUNNEMEDE, NJ 08078

SBA Loan Lender

SUSQUEHANNA BANK DV
HIGH & HANOVER STS
POTTSTOWN, PA 19464

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2353 - Hats, Caps, and Millinery

NAICS Code

315991 - Hat, Cap, and Millinery Manufacturing

Loan Approval Date

3/30/2005

Loan Approval Gross Amount

$1,300,000

Loan Approval from the SBA

Of the total $1,300,000 loan amount, the SBA guaranteed $975,000.

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 15 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Related Links:

Realistic Debt Financing Options

Small Bank Loans in Pottstown, Pennsylvania

SBA Lenders in Pennsylvania