Borrowing Money for Men's Clothing Stores

Looking for small business loans for men's clothing stores? An SBA loan may be just what you've been looking for. This $250,000 men's clothing stores loan was issued by a bank.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with The Bank Of Guam, out of Hagatna, . The loan was granted and they received $250,000 to help grow their Saipan, business.

SBA Loan Borrower

COMPANY TYPE: MEN'S CLOTHING STORES
SAIPAN, MP 96950

SBA Loan Lender

THE BANK OF GUAM
111 CHALAN SANTO PAPA
HAGATNA, GU 96910

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

NAICS Code

448110 - Men's Clothing Stores

Loan Approval Date

2/10/2004

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 31 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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