How to Get a Loan for Family Clothing Stores

With these business loans for family clothing stores, the SBA guarantees the lender that the loan will be repaid. This family clothing stores loan for $37,000 was given to a Maryland entrepreneur in 2001.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Pnc Bank, National Association, out of Salisbury, Maryland. The loan was granted and they received $37,000 to help grow their Salisbury, Maryland business.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
SALISBURY, MD 21804

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
301 CIVIC AVE
SALISBURY, MD 21801

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

5651 - Family Clothing Stores

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

7/18/2001

Loan Approval Gross Amount

$37,000

Loan Approval from the SBA

Of the total $37,000 loan amount, the SBA guaranteed $31,450.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Salisbury MD, you ought to talk with a local Salisbury SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Salisbury businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Pnc Bank, National Association 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.

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