How to Get a Loan for Hobby, Toy, and Game Stores

Looking for business loans for hobby, toy, and game stores? The SBA may be the answer. This $70,000 hobby, toy, and game stores loan was issued by an Arizona bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Casa Grande, Arizona was able to borrow $70,000 from Great Western Bank. The SBA made the loan possible by guaranteeing $35,000 of this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: HOBBY, TOY, AND GAME STORES
CASA GRANDE, AZ 85222

SBA Loan Lender

GREAT WESTERN BANK
1300 E FLORENCE BLVD
CASA GRANDE, AZ 85222

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

3/2/2007

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $35,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the borrowed money would help generate 2 new jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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:

Startup Funding Tip

SBA Participating Banks in Casa Grande, Arizona

SBA Lenders in Arizona