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January 21, 2021  
 
 
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Connecticut Small Business Funding

 

 
Loan Census SBA Loan Info

Raising Money for Formal Wear and Costume Rental

With these business loans for formal wear and costume rental, the SBA guarantees the lender that the loan will be repaid. This formal wear and costume rental loan for $140,000 was given to a Connecticut entrepreneur in 2003.

Getting a small business loan in Clinton, Connecticut was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Rbs Citizens, operating out of Branford, Connecticut. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
CLINTON, CT 06413

SBA Loan Lender

RBS CITIZENS
119 MONTOWESE ST
BRANFORD, CT 06405

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

10/9/2003

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Rbs Citizens and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Obtaining Funding - Friends and Family

Small Bank Loans in Branford, Connecticut

Getting an SBA Loan in Connecticut