Commercial Loans for Clothing Stores

With these commercial loans for clothing stores, the SBA guarantees the lender that the loan will be repaid. This clothing stores loan for $100,000 was given to a Pennsylvania entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Selinsgrove, Pennsylvania was able to borrow $100,000 from Omega Bank. The SBA made the loan possible by guaranteeing $85,000 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S ACCESSORY AND SPECIALTY STORES
SELINSGROVE, PA 17870

SBA Loan Lender

OMEGA BANK
349 MAIN ST
MILL HALL, PA 17751

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5632 - Women's Accessory and Specialty Stores

NAICS Code

448190 - Clothing Stores

Loan Approval Date

11/19/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 7 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Realistic Debt Financing Options

Where to Get an SBA Loan in Mill Hall, Pennsylvania

Getting a Business Loan in Pennsylvania