Commercial Loans for Sporting Goods Stores

Looking for commercial loans for sporting goods stores? Talk to a banker who works with the SBA. This $276,000 sporting goods stores loan was issued by a Minnesota bank.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Alliance Bank, out of Lake City, Minnesota. The loan was granted and they received $276,000 to help grow their Durand, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
DURAND, WI 54736

SBA Loan Lender

ALLIANCE BANK
105 E LYON AVE
LAKE CITY, MN 55041

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

451110 - Sporting Goods Stores

Loan Approval Date

4/18/2006

Loan Approval Gross Amount

$276,000

Loan Approval from the SBA

Of the total $276,000 loan amount, the SBA guaranteed $138,000.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Alliance Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Advice on Getting a Small Business Loan

Best Banks for Small Business in Lake City, Minnesota

Minnesota SBA 7A Banks