Citibank SBA Loan to Sporting Goods Stores Company

An SBA loan from Citibank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Brooklyn, New York business owner got a $50,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Brooklyn, New York, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Citibank, based in New York City, New York.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
BROOKLYN, NY 11204

SBA Loan Lender

CITIBANK
1 COURT SQ
NEW YORK CITY, NY 11120

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

11/30/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours 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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