Business Loans for Clothing Accessories Stores

Looking for business loans for clothing accessories stores? An SBA loan may be just what you've been looking for. This $181,000 clothing accessories stores loan was issued by a Texas bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Comerica Bank, out of Dallas, Texas. The loan was granted and they received $181,000 to help grow their Scottsdale, Arizona business.

SBA Loan Borrower

COMPANY TYPE: CLOTHING ACCESSORIES STORES
SCOTTSDALE, AZ 85255

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448150 - Clothing Accessories Stores

Loan Approval Date

5/16/2003

Loan Approval Gross Amount

$181,000

Loan Approval from the SBA

Of the total $181,000 loan amount, the SBA guaranteed $135,750.

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. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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

Small Business Credit Cards

SBA Participating Banks in Dallas, Texas

Find an SBA Lender in Texas