Alaska Entrepreneur Secures Financing to Buy Play It Again Sports retail Sports Franchise

Need a loan to purchase a Play It Again Sports retail Sports franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Play It Again Sports retail Sports franchise shouldn't be too tough. In 2002, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Anchorage, Alaska. Because Play It Again Sports retail Sports was registered with the SBA's registry of franchises, this Alaska small business loan was issued on an expedited basis.

SBA Loan Borrower

PLAY IT AGAIN SPORTS
ANCHORAGE, AK 99515

SBA Loan Lender

WELLS FARGO BANK
301 W NORTHERN LIGHTS BLVD, S
ANCHORAGE, AK 99503

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

2/13/2002

Loan Approval Gross Amount

$233,315

Loan Approval from the SBA

Of the total $233,315 loan amount, the SBA guaranteed $174,986.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Play It Again Sports retail Sports franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Play It Again Sports

Angel Investors

SBA 7A Banks for Anchorage, Alaska Loans

SBA Participating Banks in Alaska