Where to Get Capital for Sporting and Recreational Goods and Supplies Merchant Wholesalers

Looking for small business loans for sporting and recreational goods and supplies merchant wholesalers? The SBA may be the answer. This $300,000 sporting and recreational goods and supplies merchant wholesalers loan was issued by a Massachusetts bank.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Sovereign Bank, out of Dorchester, Massachusetts. The loan was granted and they received $300,000 to help grow their Higganum, Connecticut business.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES MERCHANT WHOLESALERS
HIGGANUM, CT 06441

SBA Loan Lender

SOVEREIGN BANK
2 MORRISEY BLVD
DORCHESTER, MA 02125

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers

Loan Approval Date

12/7/2006

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $150,000.

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 13 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 16 existing jobs.

Next Steps for Getting an SBA Loan

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

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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