Commercial Loans 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 $300,000 was given to a Minnesota entrepreneur in 2006.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Home Federal Savings Bank, out of Rochester, Minnesota. The loan was granted and they received $300,000 to help grow their Rochester, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
ROCHESTER, MN 55901

SBA Loan Lender

HOME FEDERAL SAVINGS BANK
1016 CIVIC CENTER DR
ROCHESTER, MN 55901

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

451110 - Sporting Goods Stores

Loan Approval Date

4/14/2006

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 6 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Rochester or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Business Line of Credit

Find an SBA Lender in Rochester, Minnesota

Getting a Business Loan in Minnesota