Financing for Sporting and Recreational Goods and Supplies Wholesalers

With these loans for sporting and recreational goods and supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This sporting and recreational goods and supplies wholesalers loan for $70,000 was given to a Texas entrepreneur in 2002.

Getting a small business loan in Austin, Texas was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of Commerce, operating out of Austin, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES WHOLESALERS
AUSTIN, TX 78736

SBA Loan Lender

AMERICAN BANK OF COMMERCE
610 W 5TH ST
AUSTIN, TX 78701

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421910 - Sporting and Recreational Goods and Supplies Wholesalers

Loan Approval Date

4/24/2002

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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