How Much Can Formal Wear and Costume Rental Businesses Get in SBA Loans?
278 SBA loans totaling $44.6M have been approved for formal wear and costume rental businesses (NAICS 532220). The average approved SBA loan is $161K, which is 53% below avg the $340K national average. 113 active lenders fund this industry with a 30.0% default rate on the matured 2018-2021 loan cohort.
At 30.0%, Formal Wear and Costume Rental sits well above the 15.4% all-industry SBA default rate (charged-off as a share of resolved loans) — elevated default risk relative to other SBA industries. Lenders price this risk into rate and structure, which is why matching the file to the right lender matters.
NAICS 532220 (Formal Wear and Costume Rental) received 278 SBA loans worth $44.6M across 5+ states. Average loan $161K, average term 88 months, 30.0% default rate (resolved-loan basis).113 active SBA-approved lenders fund this industry. Most formal wear and costume rental loans use the SBA 7(a) program. There are approximately 466,656 U.S. establishments in this industry (Census 2022).
Is SBA Lending Growing for Formal Wear and Costume Rental?-90% decline
Which SBA Program Do Formal Wear and Costume Rental Businesses Use Most?
What Is the Best SBA Loan for Formal Wear and Costume Rental?
The most widely used SBA program for formal wear and costume rental businesses — flexible terms, multiple use cases
Where Are Formal Wear and Costume Rental SBA Loans Most Common?
Top SBA Lenders for Formal Wear and Costume Rental
These banks have funded the most SBA loans for formal wear and costume rental businesses (NAICS 532220). PeerSense routes deals to lenders with proven appetite in your industry.
| # | Lender | Loans | Volume |
|---|---|---|---|
| 1 | Bank of America, National Association(NC) | 24 | $703K |
| 2 | Citizens Bank, National Association(RI) | 17 | $588K |
| 3 | Stearns Bank National Association(MN) | 16 | $5.7M |
| 4 | JPMorgan Chase Bank, National Association(OH) | 15 | $921K |
| 5 | Wells Fargo Bank National Association(SD) | 14 | $1.4M |
Formal Wear and Costume Rental Industry Context
Ready to Fund Your Formal Wear and Costume Rental Business?
PeerSense places SBA loans for formal wear and costume rental businesses nationwide. We match you with the right capital source — no retainers, referral fee at closing.
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How Does SBA Lending Work for Formal Wear and Costume Rental Businesses?
Across all SBA loan programs, 278 loans have been approved for businesses classified under NAICS 532220 (Formal Wear and Costume Rental), representing $44.6M in total capital deployed. The average approved loan of $161K is 53% below avg the national SBA average of $340K, with typical repayment terms of 88 months.
SBA lending for formal wear and costume rental has contracted approximately 90% over recent fiscal years. This shift may reflect changing market conditions, industry consolidation, or tightening credit standards in this sector. However, 113 lenders remain active, maintaining competitive options for qualified borrowers.
The overwhelming majority of SBA lending for formal wear and costume rental uses the 7(a) program, which provides the most flexibility — covering working capital, equipment purchases, partner buyouts, debt refinancing, and business acquisitions up to $5M with terms up to 25 years.
PeerSense specializes in matching formal wear and costume rental business owners with the capital sources most likely to approve their specific deal structure. As an advisory firm (not a lender), we structure your deal across our network of 500+ SBA-approved lenders to find the best terms — our referral fee is established upfront and paid at closing. No retainers.
Frequently Asked Questions — Formal Wear and Costume Rental SBA Loans
What is the average SBA loan size for formal wear and costume rental businesses?
Which SBA loan program is best for a formal wear and costume rental business?
How many lenders fund SBA loans for formal wear and costume rental?
What states have the most SBA lending for formal wear and costume rental?
How does PeerSense help formal wear and costume rental businesses get SBA loans?
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Data aggregated from SBA loan records (1992–2025). Formal Wear and Costume Rental defined by NAICS code 532220. Not financial advice. PeerSense is a capital advisory firm, not a lender. Consult a lending professional before making financial decisions.