Fitness and Recreational Sports Centers Commercial Loans

With these commercial loans for fitness and recreational sports centers, the SBA guarantees the lender that the loan will be repaid. This fitness and recreational sports centers loan for $1,789,000 was given to an Iowa entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Coralville, Iowa was able to borrow $1,789,000 from Wachovia Sba Lending, Inc.. The SBA made the loan possible by guaranteeing $998,262 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
CORALVILLE, IA 52241

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

8/22/2003

Loan Approval Gross Amount

$1,789,000

Loan Approval from the SBA

Of the total $1,789,000 loan amount, the SBA guaranteed $998,262.

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 50 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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