Raising Money for Sporting and Recreational Goods and Supplies Wholesalers

Looking for business loans for sporting and recreational goods and supplies wholesalers? Talk to a banker who works with the SBA. This $200,000 sporting and recreational goods and supplies wholesalers loan was issued by a Rhode Island bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cumberland, Maryland was able to borrow $200,000 from Rbs Citizens. The SBA made the loan possible by guaranteeing $150,000 of this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL SPORTS CLUBS AND PROMOTERS
CUMBERLAND, MD 21502

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLAZA
PROVIDENCE, RI 02903

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7941 - Professional Sports Clubs and Promoters

NAICS Code

421910 - Sporting and Recreational Goods and Supplies Wholesalers

Loan Approval Date

1/26/2001

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Rbs Citizens that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Famous Venture Capitalists

SBA 7A Banks in Providence, Rhode Island

SBA Rhode Island Lenders