Small Business Loans for Footwear and Leather Goods Repair

Looking for small business loans for footwear and leather goods repair? The SBA may be the answer. This $2,000 footwear and leather goods repair loan was issued by a Massachusetts bank.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Sovereign Bank, out of Boston, Massachusetts. The loan was granted and they received $2,000 to help grow their Quincy, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: SHOE REPAIR SHOPS AND SHOESHINE PARLORS
QUINCY, MA 02169

SBA Loan Lender

SOVEREIGN BANK
75 STATE ST
BOSTON, MA 02109

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

7251 - Shoe Repair Shops and Shoeshine Parlors

NAICS Code

811430 - Footwear and Leather Goods Repair

Loan Approval Date

2/16/2000

Loan Approval Gross Amount

$2,000

Loan Approval from the SBA

Of the total $2,000 loan amount, the SBA guaranteed $1,000.

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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

Related Links:

Debt Financing

SBA Banks in Boston, Massachusetts

Find an SBA Lender in Massachusetts