Fitness and Recreational Sports Centers Bank Loans

With these bank 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 $40,320 was given to a North Carolina entrepreneur in 2004.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with The Community Bank, out of Pilot Mountain, North Carolina. The loan was granted and they received $40,320 to help grow their Reidsville, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
REIDSVILLE, NC 27320

SBA Loan Lender

THE COMMUNITY BANK
615 W MAIN ST
PILOT MOUNTAIN, NC 27041

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

8/17/2004

Loan Approval Gross Amount

$40,320

Loan Approval from the SBA

Of the total $40,320 loan amount, the SBA guaranteed $34,272.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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