SBA Loans for Sporting Goods Stores

With these SBA loans for sporting goods stores, the SBA guarantees the lender that the loan will be repaid. This sporting goods stores loan for $389,000 was given to a Colorado entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Broomfield, Colorado was able to borrow $389,000 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $291,750 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
BROOMFIELD, CO 80020

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

11/1/2005

Loan Approval Gross Amount

$389,000

Loan Approval from the SBA

Of the total $389,000 loan amount, the SBA guaranteed $291,750.

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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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:

Direct Public Offerings

SBA Banks in Cincinnati, Ohio

Ohio SBA 7A Lenders