Raising Money for Sporting and Recreational Goods and Supplies Wholesalers

With these bank loans for sporting and recreational goods and supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This sporting and recreational goods and supplies wholesalers loan for $150,000 was given to a Minnesota entrepreneur in 2004.

This small firm knew how to go about getting a business bank loan. Based in Deerwood, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Peoples National Bank Of Mora, based in Brainerd, Minnesota.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES
DEERWOOD, MN 56444

SBA Loan Lender

PEOPLES NATIONAL BANK OF MORA
601 W WASHINGTON ST
BRAINERD, MN 56401

This lender issued this particular 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

5091 - Sporting and Recreational Goods and Supplies

NAICS Code

421910 - Sporting and Recreational Goods and Supplies Wholesalers

Loan Approval Date

1/27/2004

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 a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, fight for what you want, and it will be yours!

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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