Raising Money for Sporting Goods Stores

Looking for business loans for sporting goods stores? The SBA may be the answer. This $17,000 sporting goods stores loan was issued by a New York bank.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Manufacturers & Traders Trust, out of Utica, New York. The loan was granted and they received $17,000 to help grow their Binghamton, New York business.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
BINGHAMTON, NY 13903

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
1 HERKIMER RD
UTICA, NY 13502

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

7/26/2005

Loan Approval Gross Amount

$17,000

Loan Approval from the SBA

Of the total $17,000 loan amount, the SBA guaranteed $14,450.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

While you may be able to borrow money from friends and family, 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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