Walmart has the Dr. Scholl's Men's Race Loafer Shoes (Black) for $21 + $1 shipping = $22 shipped. Features an all leather upper, comfort gel domes, moisture control fabric and a non-marking, non-skid outsole.
Haband has the Executive Divison Men's Leather Loafers for $16 shipped w/ code XRF
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Isn't it kind of hard to race if you're a loafer ?
I've generally found Walmart to be an excellent place to find black loafers.