Borrowing Money for Men's Clothing Stores

With these loans for men's clothing stores, the SBA guarantees the lender that the loan will be repaid. This men's clothing stores loan for $111,000 was given to a California entrepreneur in 2007.

This company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Lockheed Fcu, out of Burbank, California. The loan was granted and they received $111,000 to help grow their Valencia, California business.

SBA Loan Borrower

COMPANY TYPE: MEN'S CLOTHING STORES
VALENCIA, CA 91335

SBA Loan Lender

LOCKHEED FCU
2340 HOLLYWOOD WAY
BURBANK, CA 91505

This lender issued this debt financing under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448110 - Men's Clothing Stores

Loan Approval Date

7/17/2007

Loan Approval Gross Amount

$111,000

Loan Approval from the SBA

Of the total $111,000 loan amount, the SBA guaranteed $94,350.

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 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

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.

Related Links:

The Friends and Family Network

SBA 7A Banks for Burbank, California Loans

SBA California Lenders