Raising Money for Sports and Recreation Instruction

Looking for business loans for sports and recreation instruction? The SBA may be the answer. This $140,000 sports and recreation instruction loan was issued by an Utah bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Central Bank, out of Provo, Utah. The loan was granted and they received $140,000 to help grow their Springville, Utah business.

SBA Loan Borrower

COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION
SPRINGVILLE, UT 84663

SBA Loan Lender

CENTRAL BANK
1300 N STATE ST
PROVO, UT 84604

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611620 - Sports and Recreation Instruction

Loan Approval Date

7/18/2003

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 8 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Springville UT, you ought to talk with a local Springville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Springville businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $140,000 loan. Remember, things become real when you believe you can achieve them!

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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