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November 15, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Physical Fitness Facilities Loan | ||||
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Advice for Small Businesses On Getting a Loan
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Business Loans for Fitness and Recreational Sports CentersLooking for business loans for fitness and recreational sports centers? Talk to a banker who works with the SBA. This $360,000 fitness and recreational sports centers loan was issued by a Rhode Island bank. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Independence Bank, out of East Greenwich, Rhode Island. The loan was granted and they received $360,000 to help grow their Vernon, Connecticut business. SBA Loan Borrower COMPANY TYPE: PHYSICAL FITNESS FACILITIES SBA Loan Lender INDEPENDENCE BANK This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7991 - Physical Fitness Facilities NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 3/1/2002 Loan Approval Gross Amount $360,000 Loan Approval from the SBA Of the total $360,000 loan amount, the SBA guaranteed $270,000. 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 21 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Where to Get an SBA Loan in East Greenwich, Rhode Island Getting an SBA Loan in Rhode Island
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