Getting an SBA Loan for Recreational Goods Rental

With these business loans for recreational goods rental, the SBA guarantees the lender that the loan will be repaid. This recreational goods rental loan for $48,000 was given to an Alabama entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Montgomery, Alabama was able to borrow $48,000 from Aliant Bank. The SBA made the loan possible by guaranteeing $40,800 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES
MONTGOMERY, AL 36117

SBA Loan Lender

ALIANT BANK
2740 ZELDA RD
MONTGOMERY, AL 36106

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves 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

7999 - Amusement and Recreation Services

NAICS Code

532292 - Recreational Goods Rental

Loan Approval Date

5/14/2001

Loan Approval Gross Amount

$48,000

Loan Approval from the SBA

Of the total $48,000 loan amount, the SBA guaranteed $40,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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