WARREN, R.I. – -The state’s largest family owned shoe store was granted the guaranteed small business loan, which was provided by Coastway CU.
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The loan, which is 90% guaranteed by the U.S. Small Business Administration, was provided to Jamiel’s Shoe World, which was founded in 1937.
The $400,000 loan was approved by the SBA and comes from Coastway CU and will be used to pay off existing debt and provide working capital to the business.
The 90% guaranteed loans are part of the federal economic stimulus package signed into law by President Barack Obama earlier this year.
