Loans for Fitness and Recreational Sports Centers
With these loans for fitness and recreational sports centers, the SBA guarantees the lender that the loan will be repaid. This fitness and recreational sports centers loan for $5,000 was given to a Tennessee entrepreneur in 2004.
This small firm knew how to go about getting a business bank loan. Based in Powell, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Innovative Bank, based in Oakland, California.
SBA Loan Borrower
COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
POWELL, TN 37849
SBA Loan Lender
INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612
The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to American small businesses.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
713940 - Fitness and Recreational Sports Centers
Loan Approval Date
6/7/2004
Loan Approval Gross Amount
$5,000
Loan Approval from the SBA
Of the total $5,000 loan amount, the SBA guaranteed $4,250.
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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.
Start the Process for Getting an SBA Loan Today!
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.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Innovative Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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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