Family Clothing Stores SBA Loans

With these SBA loans for family clothing stores, the SBA guarantees the lender that the loan will be repaid. This family clothing stores loan for $135,000 was given to a Virginia entrepreneur in 2001.

This business knew how to go about getting a business bank loan. Based in Tappahannock, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Bank Of Essex, based in Tappahannock, Virginia.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
TAPPAHANNOCK, VA 22560

SBA Loan Lender

BANK OF ESSEX
1325 TAPPAHANNOCK BLVD
TAPPAHANNOCK, VA 22560

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5651 - Family Clothing Stores

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

6/5/2001

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

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 2 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Tappahannock VA, you ought to talk with a local Tappahannock SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Tappahannock businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of Essex 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.

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