Loans for Men's and Boys' Clothing and Furnishing Wholesalers
With these loans for men's and boys' clothing and furnishing wholesalers, the SBA guarantees the lender that the loan will be repaid. This men's and boys' clothing and furnishing wholesalers loan for $50,000 was given to a New Jersey entrepreneur in 2002.
This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $50,000 to help grow their South Hackensack, New Jersey business.
SBA Loan Borrower
COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND FURNISHING WHOLESALERS
SOUTH HACKENSACK, NJ 07606
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
422320 - Men's and Boys' Clothing and Furnishing Wholesalers
Loan Approval Date
7/18/2002
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.
Next Steps for Getting an SBA Loan
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.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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 - Friends and Family
SBA 7A Banks for Providence, Rhode Island Loans
SBA Participating Banks in Rhode Island