Borrowing Money for Shoe Stores

With these loans for shoe stores, the SBA guarantees the lender that the loan will be repaid. This shoe stores loan for $250,000 was given to a Massachusetts entrepreneur in 2006.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Salem Five Cents Savings Bank, out of Salem, Massachusetts. The loan was granted and they received $250,000 to help grow their Woburn, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: SHOE STORES
WOBURN, MA 01801

SBA Loan Lender

SALEM FIVE CENTS SAVINGS BANK
210 ESSEX ST
SALEM, MA 01970

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

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

NAICS Code

448210 - Shoe Stores

Loan Approval Date

12/20/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 35 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Salem Five Cents Savings Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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Accountant's Role in Securing Financing

Where to Get an SBA Loan in Salem, Massachusetts

Where to Get an SBA Loan Massachusetts