Raising Money for Sporting Goods Stores

Looking for business loans for sporting goods stores? Try the SBA. This $250,000 sporting goods stores loan was issued by an Ohio bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Citizens Bank, out of Pepper Pike, Ohio. The loan was granted and they received $250,000 to help grow their Mentor, Ohio business.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
MENTOR, OH 44060

SBA Loan Lender

CITIZENS BANK
29225 CHAGRIN BLVD
PEPPER PIKE, OH 44124

This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending background and a deep knowledge SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

5/15/2001

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 8 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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

Related Links:

Accountant's Role in Securing Financing

SBA Banks in Pepper Pike, Ohio

Ohio SBA Banks