Loans for Sports and Recreation Instruction
Looking for loans for sports and recreation instruction? Try the SBA. This $292,000 sports and recreation instruction loan was issued by a Rhode Island bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Lebanon, New York was able to borrow $292,000 from Bank Of America. The SBA made the loan possible by guaranteeing $219,000 of this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION
NEW LEBANON, NY 12125
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
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
611620 - Sports and Recreation Instruction
Loan Approval Date
9/4/2003
Loan Approval Gross Amount
$292,000
Loan Approval from the SBA
Of the total $292,000 loan amount, the SBA guaranteed $219,000.
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 7 employees. The loan application indicated that the funding would help create 7 new jobs.
Start the Process for Getting an SBA Loan Today!
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.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $292,000 loan. Remember, you control your own destiny.
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:
Obtaining Funding - How to Borrow Money
Who Lends Money to Small Businesses in Providence, Rhode Island
Where to Get an SBA Loan Rhode Island