Borrowing Money for Footwear Merchant Wholesalers

With these loans for footwear merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This footwear merchant wholesalers loan for $25,000 was given to a New York entrepreneur in 2008.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in College Point, New York was able to borrow $25,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $21,250 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOTWEAR MERCHANT WHOLESALERS
COLLEGE POINT, NY 11356

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424340 - Footwear Merchant Wholesalers

Loan Approval Date

1/24/2008

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help retain 6 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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