Getting an SBA Loan for Fitness and Recreational Sports Centers

Looking for commercial loans for fitness and recreational sports centers? An SBA loan may be just what you've been looking for. This $150,000 fitness and recreational sports centers loan was issued by a Connecticut bank.

This business knew how to go about getting a business bank loan. Based in Torrington, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was 1st National Bank - Litchfield, based in Litchfield, Connecticut.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
TORRINGTON, CT 06790

SBA Loan Lender

1ST NATIONAL BANK - LITCHFIELD
13 NORTH ST
LITCHFIELD, CT 06759

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

10/15/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 3 employees. The SBA loan documents indicated that the borrowed money would help create 3 new jobs.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Torrington 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.

Related Links:

Borrowing Money from Friends and Family

SBA Participating Banks in Litchfield, Connecticut

Getting a Business Loan in Connecticut