SBA Loan from Citizens Security Bank (guam) In Helps Sporting Goods Stores Company

An SBA loan from Citizens Security Bank (guam) In typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Gms Barrigada, business owner got a $38,900 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gms Barrigada, was able to borrow $38,900 from Citizens Security Bank (guam) In. The SBA made the loan possible by guaranteeing $33,065 of this small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
GMS BARRIGADA, GU 69629

SBA Loan Lender

CITIZENS SECURITY BANK (GUAM) IN
424 W O'BRIEN DR, 114 JULALE
AGANA, GU 96910

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

5/4/2005

Loan Approval Gross Amount

$38,900

Loan Approval from the SBA

Of the total $38,900 loan amount, the SBA guaranteed $33,065.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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