Chesapeake, VA Entrepreneur Gets SBA Loan to Buy Foot Solutions Franchise

Need a loan to invest in a Foot Solutions franchise? Ncb, Fsb has a history of making these loans and they are guaranteed by the SBA.

Foot Solutions franchise loans are available to Chesapeake, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Ncb, Fsb, based in Hillsboro, Ohio, issued an SBA franchise loan for a Foot Solutions franchise in 2002. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

FOOT SOLUTIONS
CHESAPEAKE, VA 23320

SBA Loan Lender

NCB, FSB
139 S HIGH ST
HILLSBORO, OH 45133

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5661 - Shoe Stores

NAICS Code

448210 - Shoe Stores

Loan Approval Date

9/24/2002

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 2 employees. This SBA loan request did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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 $125,000 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.

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