How to Get a Loan for Fitness and Recreational Sports Centers

Looking for business loans for fitness and recreational sports centers? The SBA may be the answer. This $85,000 fitness and recreational sports centers loan was issued by an Indiana bank.

This small business knew how to go about getting a business bank loan. Based in Newburgh, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Old National Bank, based in Evansville, Indiana.

SBA Loan Borrower

COMPANY TYPE: PHYSICAL FITNESS FACILITIES
NEWBURGH, IN 47630

SBA Loan Lender

OLD NATIONAL BANK
ONE MAIN ST
EVANSVILLE, IN 47708

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7991 - Physical Fitness Facilities

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

2/27/2002

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

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 4 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Newburgh IN, you ought to talk with a local Newburgh SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Newburgh businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Old National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Old 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:

VC Firms on Twitter

Find an SBA Lender in Evansville, Indiana

SBA Lenders in Indiana