Get an SBA Loan for Sporting Goods Stores

Looking for loans for sporting goods stores? The SBA may be the answer. This $67,800 sporting goods stores loan was issued by a South Dakota bank.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with The First Western Bank Sturgis, out of Belle Fourche, South Dakota. The loan was granted and they received $67,800 to help grow their Rapid City, South Dakota business.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
RAPID CITY, SD 57702

SBA Loan Lender

THE FIRST WESTERN BANK STURGIS
41 5TH AVE
BELLE FOURCHE, SD 57717

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

2/13/2001

Loan Approval Gross Amount

$67,800

Loan Approval from the SBA

Of the total $67,800 loan amount, the SBA guaranteed $57,630.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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