Financing for Sporting Goods Stores

With these commercial loans for sporting goods stores, the SBA guarantees the lender that the loan will be repaid. This sporting goods stores loan for $90,000 was given to a Massachusetts entrepreneur in 2005.

This small business knew how to go about getting a business bank loan. Based in Revere, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Eastern Bank, based in Boston, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
REVERE, MA 02151

SBA Loan Lender

EASTERN BANK
265 FRANKLIN ST
BOSTON, MA 02110

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

2/24/2005

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 documents indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.

While you may be able to borrow money from friends and family, 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.

Related Links:

How Much Venture Capital Is There?

Banks in Boston, Massachusetts

Massachusetts SBA Bank Lenders