Sports and Recreation Instruction Loans

Looking for loans for sports and recreation instruction? Talk to a banker who works with the SBA. This $13,600 sports and recreation instruction loan was issued by a North Dakota bank.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First Internatl Bank & Tr, out of Fargo, North Dakota. The loan was granted and they received $13,600 to help grow their Fargo, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES
FARGO, ND 58104

SBA Loan Lender

FIRST INTERNATL BANK & TR
4501 40TH AVE SOUTH
FARGO, ND 58103

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7999 - Amusement and Recreation Services

NAICS Code

611620 - Sports and Recreation Instruction

Loan Approval Date

4/5/2004

Loan Approval Gross Amount

$13,600

Loan Approval from the SBA

Of the total $13,600 loan amount, the SBA guaranteed $11,560.

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 only one employee. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Internatl Bank & Tr and they will explain how you can get an SBA loan for your company.

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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