Sporting and Recreational Goods and Supplies Merchant Wholesalers Business Loans

Looking for business loans for sporting and recreational goods and supplies merchant wholesalers? Try the SBA. This $50,000 sporting and recreational goods and supplies merchant wholesalers loan was issued by a New York bank.

Getting a small business loan in Mexico, New York was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Pathfinder Bank, operating out of Oswego, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES
MEXICO, NY 13114

SBA Loan Lender

PATHFINDER BANK
214 W 1ST ST
OSWEGO, NY 13126

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5091 - Sporting and Recreational Goods and Supplies

NAICS Code

423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers

Loan Approval Date

2/24/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 2 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

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 Pathfinder 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.

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