Clothing Stores Commercial Loans

With these commercial loans for clothing stores, the SBA guarantees the lender that the loan will be repaid. This clothing stores loan for $65,000 was given to an Arkansas entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Springdale, Arkansas was able to borrow $65,000 from Arvest Trust. The SBA made the loan possible by guaranteeing $55,250 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S ACCESSORY AND SPECIALTY STORES
SPRINGDALE, AR 72764

SBA Loan Lender

ARVEST TRUST
201 W WALNUT
ROGERS, AR 72756

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

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

4/16/2001

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

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 only one employee. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Arvest Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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