How to Get a Loan for Sports and Recreation Instruction

With these commercial loans for sports and recreation instruction, the SBA guarantees the lender that the loan will be repaid. This sports and recreation instruction loan for $30,000 was given to a New Jersey entrepreneur in 2004.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Hopewell Valley Community Bank, out of Pennington, New Jersey. The loan was granted and they received $30,000 to help grow their Lambertville, New Jersey business.

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 was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

11/2/2004

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Hopewell Valley Community Bank and they will explain how you can get an SBA loan for your company.

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:

Obtaining Funding - Getting Venture Capital

Who Lends Money to Small Businesses in Pennington, New Jersey

Browse All Business Loan Sources for New Jersey