Commercial Loans for Sporting and Recreational Goods and Supplies Wholesalers
Looking for commercial loans for sporting and recreational goods and supplies wholesalers? Try the SBA. This $150,000 sporting and recreational goods and supplies wholesalers 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 2001. The lending bank was Associated Bank, based in Minneapolis, Minnesota.
SBA Loan Borrower
COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES WHOLESALERS
MINNEAPOLIS, MN 55419
SBA Loan Lender
ASSOCIATED BANK
740 MARQUETTE AVE
MINNEAPOLIS, MN 55402
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
421910 - Sporting and Recreational Goods and Supplies Wholesalers
Loan Approval Date
8/16/2001
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $112,500.
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 only one employee. The loan application indicated that the loan would help retain 1 existing job.
Next Steps for Getting an SBA Loan
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Borrowing Money from Friends and Family
Small Bank Loans in Minneapolis, Minnesota
Getting an SBA Loan in Minnesota