Where to Get Capital for Sports and Recreation Instruction

Looking for SBA loans for sports and recreation instruction? The SBA may be the answer. This $13,000 sports and recreation instruction loan was issued by an Arkansas bank.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Heritage Bank, out of Jonesboro, Arkansas. The loan was granted and they received $13,000 to help grow their Trumann, Arkansas business.

SBA Loan Borrower

COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION
TRUMANN, AR 72472

SBA Loan Lender

HERITAGE BANK
2009 BROWNS LN
JONESBORO, AR 72401

This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611620 - Sports and Recreation Instruction

Loan Approval Date

2/14/2005

Loan Approval Gross Amount

$13,000

Loan Approval from the SBA

Of the total $13,000 loan amount, the SBA guaranteed $11,050.

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 only one employee. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Heritage Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

SBIR Funding

SBA 7A Lenders in Jonesboro, Arkansas

SBA Participating Banks in Arkansas