Borrowing Money for Recreational Goods Rental

With these loans for recreational goods rental, the SBA guarantees the lender that the loan will be repaid. This recreational goods rental loan for $125,000 was given to a California entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Rancho Mirage, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Frontier Bank Fsb D/b/a El Pas, based in Palm Desert, California.

SBA Loan Borrower

COMPANY TYPE: RECREATIONAL GOODS RENTAL
RANCHO MIRAGE, CA 92270

SBA Loan Lender

FRONTIER BANK FSB D/B/A EL PAS
74175 EL PASEO DR
PALM DESERT, CA 92260

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532292 - Recreational Goods Rental

Loan Approval Date

8/8/2001

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Frontier Bank Fsb D/b/a El Pas and they will explain how you can get an SBA loan for your company.

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:

The Friends and Family Network

SBA 7A Banks for Palm Desert, California Loans

Find an SBA Lender in California