Getting an SBA Loan for Shoe Stores

With these SBA loans for shoe stores, the SBA guarantees the lender that the loan will be repaid. This shoe stores loan for $105,000 was given to a Minnesota entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with St. Stephen State Bank, out of Saint Cloud, Minnesota. The loan was granted and they received $105,000 to help grow their Saint Cloud, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: SHOE STORES
SAINT CLOUD, MN 56303

SBA Loan Lender

ST. STEPHEN STATE BANK
3950 3RD ST NORTH
SAINT CLOUD, MN 56301

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5661 - Shoe Stores

NAICS Code

448210 - Shoe Stores

Loan Approval Date

2/7/2002

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

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 SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $105,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Business Line of Credit

SBA 7A Lenders in Saint Cloud, Minnesota

Minnesota SBA Bank Lenders