Raising Money for Sporting Goods Stores

Looking for bank loans for sporting goods stores? The SBA may be the answer. This $760,000 sporting goods stores loan was issued by a New Jersey bank.

This small firm knew how to go about getting a business bank loan. Based in Ship Bottom, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Commerce Bank, based in Toms River, New Jersey.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
SHIP BOTTOM, NJ 08008

SBA Loan Lender

COMMERCE BANK
1101 HOOPER AVE
TOMS RIVER, NJ 08753

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

12/18/2001

Loan Approval Gross Amount

$760,000

Loan Approval from the SBA

Of the total $760,000 loan amount, the SBA guaranteed $380,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The loan application indicated that the loan would help retain 20 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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.

Related Links:

Choosing VC Firms

Where to Get an SBA Loan in Toms River, New Jersey

SBA New Jersey Banks