How to Get a Loan for Family Clothing Stores

With these SBA loans for family clothing stores, the SBA guarantees the lender that the loan will be repaid. This family clothing stores loan for $101,700 was given to an Indiana entrepreneur in 2007.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Integra Bank, out of Evansville, Indiana. The loan was granted and they received $101,700 to help grow their Evansville, Indiana business.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
EVANSVILLE, IN 47715

SBA Loan Lender

INTEGRA BANK
21 SE 3RD ST
EVANSVILLE, IN 47708

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

4/24/2007

Loan Approval Gross Amount

$101,700

Loan Approval from the SBA

Of the total $101,700 loan amount, the SBA guaranteed $86,445.

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 indicated that the funding would help create 1 new job.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Integra Bank 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:

Borrowing Money from Friends and Family

Find an SBA Lender in Evansville, Indiana

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