Small Business Loans for Fitness and Recreational Sports Centers

With these small business loans for fitness and recreational sports centers, the SBA guarantees the lender that the loan will be repaid. This fitness and recreational sports centers loan for $291,800 was given to a Virginia entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Midlothian, Virginia, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Village Bank, based in Midlothian, Virginia.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
MIDLOTHIAN, VA 23112

SBA Loan Lender

VILLAGE BANK
1231 ALVERSER DR
MIDLOTHIAN, VA 23113

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

5/18/2006

Loan Approval Gross Amount

$291,800

Loan Approval from the SBA

Of the total $291,800 loan amount, the SBA guaranteed $145,900.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the borrowed money would help create 4 new jobs.

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 important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Village Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Village Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Business Line of Credit

Small Business Banks in Midlothian, Virginia

Getting an SBA Loan in Virginia