Borrowing Money for Footwear Wholesalers

With these loans for footwear wholesalers, the SBA guarantees the lender that the loan will be repaid. This footwear wholesalers loan for $30,000 was given to a Florida entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Coral Springs, Florida was able to borrow $30,000 from Wachovia Bank. The SBA made the loan possible by guaranteeing $24,000 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOTWEAR
CORAL SPRINGS, FL 33065

SBA Loan Lender

WACHOVIA BANK
450 AUSTRALIAN AVE
WEST PALM BEACH, FL 33401

This lender issued this particular bank 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.

SIC Code

5139 - Footwear

NAICS Code

422340 - Footwear Wholesalers

Loan Approval Date

7/3/2000

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $24,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wachovia Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Alternative Financing

Small Business Banks in West Palm Beach, Florida

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