Amusement Arcades Loans

With these loans for amusement arcades, the SBA guarantees the lender that the loan will be repaid. This amusement arcades loan for $1,226,000 was given to a North Carolina entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kannapolis, North Carolina was able to borrow $1,226,000 from Merrill Lynch Bank Usa. The SBA made the loan possible by guaranteeing $749,993 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED AMUSEMENT DEVICES
KANNAPOLIS, NC 28083

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7993 - Coin-Operated Amusement Devices

NAICS Code

713120 - Amusement Arcades

Loan Approval Date

3/30/2000

Loan Approval Gross Amount

$1,226,000

Loan Approval from the SBA

Of the total $1,226,000 loan amount, the SBA guaranteed $749,993.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,226,000 loan. Remember, you control your own destiny.

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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