Where to Get Capital for Shoe Stores

Looking for small business loans for shoe stores? Talk to a banker who works with the SBA. This $52,200 shoe stores loan was issued by an Iowa bank.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with United Bank Of Iowa, out of Ida Grove, Iowa. The loan was granted and they received $52,200 to help grow their Ida Grove, Iowa business.

SBA Loan Borrower

COMPANY TYPE: SHOE STORES
IDA GROVE, IA 51445

SBA Loan Lender

UNITED BANK OF IOWA
501 2ND ST
IDA GROVE, IA 51445

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448210 - Shoe Stores

Loan Approval Date

11/17/2006

Loan Approval Gross Amount

$52,200

Loan Approval from the SBA

Of the total $52,200 loan amount, the SBA guaranteed $44,370.

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 4 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 United Bank Of Iowa 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.

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