Raising Money for Shoe Stores

Looking for bank loans for shoe stores? The SBA may be the answer. This $50,000 shoe stores loan was issued by a New Mexico bank.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Bank 1st, out of Albuquerque, New Mexico. The loan was granted and they received $50,000 to help grow their Albuquerque, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: SHOE STORES
ALBUQUERQUE, NM 87110

SBA Loan Lender

BANK 1ST
2900 LOUISIANA BLVD NE, SO BL
ALBUQUERQUE, NM 87190

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448210 - Shoe Stores

Loan Approval Date

6/8/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 10 employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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 Friends and Family Network

Good Banks for Small Business in Albuquerque, New Mexico

New Mexico SBA 7A Lenders