Kentucky Entrepreneur Secures Financing to Buy Play It Again Sports retail Sports Franchise

Need money to purchase a Play It Again Sports retail Sports franchise? Wilson & Muir Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Elizabeth Town, Kentucky needed money to invest in a Play It Again Sports retail Sports franchise back in 2007. Wilson & Muir Bank & Trust issued an SBA franchise loan. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COLLIN & JAGGERS, INC
ELIZABETH TOWN, KY 42701

SBA Loan Lender

WILSON & MUIR BANK & TRUST
123 W MAIN
VINE GROVE, KY 40175

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

451110 - Sporting Goods Stores

Loan Approval Date

8/3/2007

Loan Approval Gross Amount

$210,000

Loan Approval from the SBA

Of the total $210,000 loan amount, the SBA guaranteed $157,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Play It Again Sports retail Sports 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 generate 3 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wilson & Muir Bank & Trust 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.

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