How to Get a Loan for Sports and Recreation Instruction

With these business loans for sports and recreation instruction, the SBA guarantees the lender that the loan will be repaid. This sports and recreation instruction loan for $20,000 was given to a New Jersey entrepreneur in 2006.

This small business knew how to go about getting a business bank loan. Based in Lambertville, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Hopewell Valley Community Bank, based in Pennington, New Jersey.

SBA Loan Borrower

COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION
LAMBERTVILLE, NJ 08530

SBA Loan Lender

HOPEWELL VALLEY COMMUNITY BANK
4 RTE 31 SOUTH
PENNINGTON, NJ 08534

This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

611620 - Sports and Recreation Instruction

Loan Approval Date

9/27/2006

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 only one employee. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Hopewell Valley Community 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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