Get an SBA Loan for Sports and Recreation Instruction

With these loans for sports and recreation instruction, the SBA guarantees the lender that the loan will be repaid. This sports and recreation instruction loan for $65,000 was given to a Massachusetts entrepreneur in 2002.

This company knew how to go about getting a business bank loan. Based in Lenox, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Legacy Banks, based in Pittsfield, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES
LENOX, MA 01240

SBA Loan Lender

LEGACY BANKS
99 NORTH ST
PITTSFIELD, MA 01201

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7999 - Amusement and Recreation Services

NAICS Code

611620 - Sports and Recreation Instruction

Loan Approval Date

3/28/2002

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Legacy Banks so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Direct Public Offerings

Small Business Banks in Pittsfield, Massachusetts

SBA Participating Banks in Massachusetts