Getting an SBA Loan 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 $150,000 was given to a Minnesota entrepreneur in 2005.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Central Bank, out of Coon Rapids, Minnesota. The loan was granted and they received $150,000 to help grow their Circle Pines, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
CIRCLE PINES, MN 55014

SBA Loan Lender

CENTRAL BANK
3585 124TH AVE NORTHWEST
COON RAPIDS, MN 55433

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

3/29/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Small Business Credit Cards

Small Business Banks in Coon Rapids, Minnesota

Where to Get an SBA Loan Minnesota