Raising Money for Clothing Stores

Looking for bank loans for clothing stores? Talk to a banker who works with the SBA. This $120,000 clothing stores loan was issued by a Pennsylvania bank.

This small firm knew how to go about getting a business bank loan. Based in Pottstown, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Susquehanna Bank Dv, based in Pottstown, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: APPAREL AND ACCESSORY STORES
POTTSTOWN, PA 19464

SBA Loan Lender

SUSQUEHANNA BANK DV
HIGH & HANOVER STS
POTTSTOWN, PA 19464

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

5699 - Apparel and Accessory Stores

NAICS Code

448190 - Clothing Stores

Loan Approval Date

6/4/2001

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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 Art of Bootstrapping

SBA 7A Banks for Pottstown, Pennsylvania Loans

Pennsylvania SBA 7A Lenders