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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Plymouth, Business Loans > First National Bank Plymouth Business Loans > Fitness And Recreational Sports Centers Loan | ||||
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Minneapolis, Minnesota Bank Loan
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Raising Money for Fitness and Recreational Sports CentersLooking for business loans for fitness and recreational sports centers? Try the SBA. This $117,291 fitness and recreational sports centers loan was issued by a Minnesota bank. This small business knew how to go about getting a business bank loan. Based in Minneapolis, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was First National Bank, based in Plymouth, Minnesota. SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS SBA Loan Lender FIRST NATIONAL BANK This lender issued this SBA small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 12/19/2006 Loan Approval Gross Amount $117,291 Loan Approval from the SBA Of the total $117,291 loan amount, the SBA guaranteed $99,697. More Information on This SBA Loan The borrower borrowed this money for an existing 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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First National 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: SBA 7A Banks in Plymouth, Minnesota
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