Get an SBA Loan for Clothing Stores

With these bank loans for clothing stores, the SBA guarantees the lender that the loan will be repaid. This clothing stores loan for $275,000 was given to a New York entrepreneur in 2005.

This company knew how to go about getting a business bank loan. Based in Vestal, New York, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Tioga State Bank, based in Spencer, New York.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
VESTAL, NY 13850

SBA Loan Lender

TIOGA STATE BANK
1 MAIN ST
SPENCER, NY 14883

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

448190 - Clothing Stores

Loan Approval Date

10/14/2005

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $137,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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

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