How to Get a Loan for Amusement and Recreation Industries

Looking for business loans for amusement and recreation industries? Talk to a banker who works with the SBA. This $2,000,000 amusement and recreation industries loan was issued by a Minnesota bank.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Vermillion State Bank, out of Vermillion, Minnesota. The loan was granted and they received $2,000,000 to help grow their Inver Grove Heights, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION INDUSTRIES
INVER GROVE HEIGHTS, MN 55077

SBA Loan Lender

VERMILLION STATE BANK
107 E MAIN ST
VERMILLION, MN 55085

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.

NAICS Code

713990 - Amusement and Recreation Industries

Loan Approval Date

8/24/2007

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

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 19 employees. The SBA loan application for the borrower indicated that the loan would help generate 11 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Vermillion State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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