Hobby, Toy, and Game Stores SBA Loans

Looking for SBA loans for hobby, toy, and game stores? An SBA loan may be just what you've been looking for. This $192,500 hobby, toy, and game stores loan was issued by an Utah bank.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Usu Charter Fcu, out of Logan, Utah. The loan was granted and they received $192,500 to help grow their North Logan, Utah business.

SBA Loan Borrower

COMPANY TYPE: HOBBY, TOY, AND GAME STORES
NORTH LOGAN, UT 84341

SBA Loan Lender

USU CHARTER FCU
695 E 1000 NORTH
LOGAN, UT 84321

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

5/8/2003

Loan Approval Gross Amount

$192,500

Loan Approval from the SBA

Of the total $192,500 loan amount, the SBA guaranteed $144,375.

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 only one employee. The SBA loan application for the borrower did not indicate that the company 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?

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Usu Charter Fcu that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Accountant's Role in Securing Financing

SBA Approved Banks in Logan, Utah

Getting an SBA Loan in Utah