Business Loans for Women's Handbag and Purse Manufacturing

Looking for business loans for women's handbag and purse manufacturing? The SBA may be the answer. This $100,000 women's handbag and purse manufacturing loan was issued by a Virginia bank.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Citizens & Farmers Bank, out of Midlothian, Virginia. The loan was granted and they received $100,000 to help grow their Richmond, Virginia business.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S HANDBAGS AND PURSES
RICHMOND, VA 23219

SBA Loan Lender

CITIZENS & FARMERS BANK
1400 ALVERSER DR, C & F CENTE
MIDLOTHIAN, VA 23112

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3171 - Women's Handbags and Purses

NAICS Code

316992 - Women's Handbag and Purse Manufacturing

Loan Approval Date

4/3/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

We can help you find the best banks for small businesses in Richmond or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Small Business Loan

SBA 7A Banks for Midlothian, Virginia Loans

SBA Participating Banks in Virginia