Financing for Clothing Stores

Looking for loans for clothing stores? Try the SBA. This $24,600 clothing stores loan was issued by a Minnesota bank.

This small firm knew how to go about getting a business bank loan. Based in Sandstone, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Horizon Bank, based in Pine City, Minnesota.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
SANDSTONE, MN 55072

SBA Loan Lender

HORIZON BANK
600 HILLSIDE AVE SW
PINE CITY, MN 55063

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

448190 - Clothing Stores

Loan Approval Date

5/19/2006

Loan Approval Gross Amount

$24,600

Loan Approval from the SBA

Of the total $24,600 loan amount, the SBA guaranteed $12,300.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Sandstone MN, you ought to talk with a local Sandstone SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sandstone businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Horizon Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Getting a Small Business Loan

Banks in Pine City, Minnesota

Minnesota SBA Banks