Bank Loans for Fitness and Recreational Sports Centers

Looking for bank loans for fitness and recreational sports centers? Talk to a banker who works with the SBA. This $70,000 fitness and recreational sports centers loan was issued by an Iowa bank.

This company knew how to go about getting a business bank loan. Based in Sac City, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Iowa State Bank, based in Sac City, Iowa.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
SAC CITY, IA 50583

SBA Loan Lender

IOWA STATE BANK
500 AUDUBON ST
SAC CITY, IA 50583

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

8/31/2005

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Iowa State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Iowa State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 Credit Evaluation

Best Banks in Sac City, Iowa

SBA Lenders in Iowa