Borrowing Money for Family Clothing Stores

With these loans for family clothing stores, the SBA guarantees the lender that the loan will be repaid. This family clothing stores loan for $20,000 was given to a Wisconsin entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Whitefish Bay, Wisconsin was able to borrow $20,000 from Community Bank & Trust. The SBA made the loan possible by guaranteeing $10,000 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
WHITEFISH BAY, WI 53217

SBA Loan Lender

COMMUNITY BANK & TRUST
604 N EIGHTH ST
SHEBOYGAN, WI 53081

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

448140 - Family Clothing Stores

Loan Approval Date

1/13/2005

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower indicated that the loan would help retain 20 existing jobs.

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

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

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

Related Links:

Microlending as a Small Business Funding Source

SBA 7A Banks in Sheboygan, Wisconsin

SBA Participating Banks in Wisconsin