Get an SBA Loan for Footwear and Leather Goods Repair

With these loans for footwear and leather goods repair, the SBA guarantees the lender that the loan will be repaid. This footwear and leather goods repair loan for $20,000 was given to a Maryland entrepreneur in 2001.

Getting a small business loan in Hagerstown, Maryland was important for this growing firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Susquehanna Bank, operating out of Waynesboro, Pennsylvania. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: SHOE REPAIR SHOPS AND SHOESHINE PARLORS
HAGERSTOWN, MD 21742

SBA Loan Lender

SUSQUEHANNA BANK
10 W MAIN ST
WAYNESBORO, PA 17268

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program requires 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

7251 - Shoe Repair Shops and Shoeshine Parlors

NAICS Code

811430 - Footwear and Leather Goods Repair

Loan Approval Date

4/27/2001

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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 only one employee. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Susquehanna Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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