Loans for Men's Clothing Stores
Looking for loans for men's clothing stores? The SBA may be the answer. This $960,000 men's clothing stores loan was issued by a Texas bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Antonio, Texas was able to borrow $960,000 from Ozona National Bank. The SBA made the loan possible by guaranteeing $720,000 of this Texas small business loan.
SBA Loan Borrower
COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND ACCESSORY STORES
SAN ANTONIO, TX 78216
SBA Loan Lender
OZONA NATIONAL BANK
503 11TH ST
OZONA, TX 76943
This lender issued this small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.
SIC Code
5611 - Men's and Boys' Clothing and Accessory Stores
NAICS Code
448110 - Men's Clothing Stores
Loan Approval Date
4/30/2002
Loan Approval Gross Amount
$960,000
Loan Approval from the SBA
Of the total $960,000 loan amount, the SBA guaranteed $720,000.
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 16 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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
Good Banks for Small Business in Ozona, Texas
SBA Lenders in Texas