Financing for Fitness and Recreational Sports Centers

With these 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 $240,700 was given to a Washington entrepreneur in 2007.

This company knew how to go about getting a business bank loan. Based in Spokane, Washington, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Bank Of Whitman, based in Colfax, Washington.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
SPOKANE, WA 99224

SBA Loan Lender

BANK OF WHITMAN
201 S MAIN ST
COLFAX, WA 99111

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

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

9/21/2007

Loan Approval Gross Amount

$240,700

Loan Approval from the SBA

Of the total $240,700 loan amount, the SBA guaranteed $180,525.

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 4 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of Whitman had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of Whitman 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:

Accountant's Role in Securing Financing

SBA Banks in Colfax, Washington

Washington SBA 7A Banks