Getting an SBA Loan for Recreational Goods Rental

Looking for commercial loans for recreational goods rental? The SBA may be the answer. This $50,500 recreational goods rental loan was issued by a New York bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Community Bank, out of Corning, New York. The loan was granted and they received $50,500 to help grow their Hammondsport, New York business.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES
HAMMONDSPORT, NY 14840

SBA Loan Lender

COMMUNITY BANK
15 E PULTENEY ST
CORNING, NY 14830

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7999 - Amusement and Recreation Services

NAICS Code

532292 - Recreational Goods Rental

Loan Approval Date

4/30/2003

Loan Approval Gross Amount

$50,500

Loan Approval from the SBA

Of the total $50,500 loan amount, the SBA guaranteed $42,925.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Startup Funding Tip

Where to Get an SBA Loan in Corning, New York

SBA Lenders in New York