Loan to Buy Foot Solutions Franchise Issued By U.S. Bank National Association

Need money to purchase a Foot Solutions franchise? U.S. Bank National Association has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Foot Solutions franchise? If so, here's a 2007 SBA franchise loan that you should know about. U.S. Bank National Association was the lender and the entrepreneur was based in Burnsville, Minnesota.

SBA Loan Borrower

LSTEP FOOT SOLUTIONS, INC.
BURNSVILLE, MN 55337

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

This lender issued this debt financing under the SBA 7A lending program , 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.

NAICS Code

448210 - Shoe Stores

Loan Approval Date

12/14/2007

Loan Approval Gross Amount

$172,700

Loan Approval from the SBA

Of the total $172,700 loan amount, the SBA guaranteed $129,525.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Foot Solutions franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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:

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