How to Get a Loan 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 $100,000 was given to a Minnesota entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Spring Lake Park, Minnesota was able to borrow $100,000 from 21st Century Bank. The SBA made the loan possible by guaranteeing $50,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
SPRING LAKE PARK, MN 55432

SBA Loan Lender

21ST CENTURY BANK
699 N MEDINA ST
LORETTO, MN 55357

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

9/22/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

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 Spring Lake Park 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.

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