Raising Money for Fitness and Recreational Sports Centers

Looking for business loans for fitness and recreational sports centers? An SBA loan may be just what you've been looking for. This $45,000 fitness and recreational sports centers loan was issued by a New York bank.

This business knew how to go about getting a business bank loan. Based in Grand Island, New York, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Hsbc Bank Usa, based in Buffalo, New York.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES
GRAND ISLAND, NY 14072

SBA Loan Lender

HSBC BANK USA
ONE HSBC CTR
BUFFALO, NY 14203

This lender issued this particular SBA bank 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

7999 - Amusement and Recreation Services

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

12/18/2000

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $31,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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