How to Get a Loan for Men's Clothing Stores

With these business loans for men's clothing stores, the SBA guarantees the lender that the loan will be repaid. This men's clothing stores loan for $55,000 was given to an Alabama entrepreneur in 2002.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with State Bank & Trust, out of Winfield, Alabama. The loan was granted and they received $55,000 to help grow their Winfield, Alabama business.

SBA Loan Borrower

COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND ACCESSORY STORES
WINFIELD, AL 35594

SBA Loan Lender

STATE BANK & TRUST
1945 US HWY 43
WINFIELD, AL 35594

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5611 - Men's and Boys' Clothing and Accessory Stores

NAICS Code

448110 - Men's Clothing Stores

Loan Approval Date

11/25/2002

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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