Loans for Formal Wear and Costume Rental

Looking for loans for formal wear and costume rental? Talk to a banker who works with the SBA. This $85,000 formal wear and costume rental loan was issued by an Ohio bank.

This small firm knew how to go about getting a business bank loan. Based in Washington, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Wesbanco Bank, Inc., based in Saint Clairsville, Ohio.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
WASHINGTON, PA 15301

SBA Loan Lender

WESBANCO BANK, INC.
135 W MAIN ST
SAINT CLAIRSVILLE, OH 43950

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5621 - Women's Clothing Stores

NAICS Code

532220 - Formal Wear and Costume Rental

Loan Approval Date

9/25/2001

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

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 3 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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