Borrowing Money for Recreational and Vacation Camps

With these loans for recreational and vacation camps, the SBA guarantees the lender that the loan will be repaid. This recreational and vacation camps loan for $24,500 was given to a Missouri entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First National Bank, out of Camdenton, Missouri. The loan was granted and they received $24,500 to help grow their Camdenton, Missouri business.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND RECREATIONAL CAMPS
CAMDENTON, MO 65020

SBA Loan Lender

FIRST NATIONAL BANK
117 N STATE HWY 5
CAMDENTON, MO 65020

This lender issued this particular SBA bank loan 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.

SIC Code

7032 - Sporting and Recreational Camps

NAICS Code

721214 - Recreational and Vacation Camps

Loan Approval Date

12/18/2003

Loan Approval Gross Amount

$24,500

Loan Approval from the SBA

Of the total $24,500 loan amount, the SBA guaranteed $20,825.

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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

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.

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.

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