Children's and Infants' Clothing Stores SBA Loans

With these SBA loans for children's and infants' clothing stores, the SBA guarantees the lender that the loan will be repaid. This children's and infants' clothing stores loan for $55,000 was given to a Texas entrepreneur in 2000.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with First State Bank, out of Paint Rock, Texas. The loan was granted and they received $55,000 to help grow their San Angelo, Texas business.

SBA Loan Borrower

COMPANY TYPE: CHILDREN'S AND INFANTS' WEAR STORES
SAN ANGELO, TX 76903

SBA Loan Lender

FIRST STATE BANK
245 W MOSS ST
PAINT ROCK, TX 76866

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5641 - Children's and Infants' Wear Stores

NAICS Code

448130 - Children's and Infants' Clothing Stores

Loan Approval Date

6/16/2000

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $44,000.

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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First State Bank 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:

Obtaining Funding - How to Borrow Money

SBA 7A Banks for Paint Rock, Texas Loans

Getting an SBA Loan in Texas