Formal Wear and Costume Rental Business Loans

With these business loans for formal wear and costume rental, the SBA guarantees the lender that the loan will be repaid. This formal wear and costume rental loan for $50,000 was given to a New Hampshire entrepreneur in 2000.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of New England, out of Salem, New Hampshire. The loan was granted and they received $50,000 to help grow their Salem, New Hampshire business.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
SALEM, NH 03079

SBA Loan Lender

BANK OF NEW ENGLAND
31 PELHAM RD
SALEM, NH 03079

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5621 - Women's Clothing Stores

NAICS Code

532220 - Formal Wear and Costume Rental

Loan Approval Date

10/13/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

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 only one employee. This SBA loan request did not indicate that the SBA funding recipient 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of New England that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Credit Evaluation

SBA 7A Banks for Salem, New Hampshire Loans

New Hampshire SBA 7A Banks