Financing for Women's Handbag and Purse Manufacturing

Looking for loans for women's handbag and purse manufacturing? Talk to a banker who works with the SBA. This $100,000 women's handbag and purse manufacturing loan was issued by a Virginia bank.

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

SBA Loan Borrower

COMPANY TYPE: WOMEN'S HANDBAG AND PURSE MANUFACTURING
VIENNA, VA 22182

SBA Loan Lender

CARDINAL BANK
8270 GREENSBORO DR, STE 500
MCLEAN, VA 22102

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

316992 - Women's Handbag and Purse Manufacturing

Loan Approval Date

2/22/2006

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 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 SBA loan documents indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cardinal Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cardinal Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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