Borrowing Money for Fitness and Recreational Sports Centers

With these bank loans for fitness and recreational sports centers, the SBA guarantees the lender that the loan will be repaid. This fitness and recreational sports centers loan for $150,000 was given to a Massachusetts entrepreneur in 2003.

Getting a small business loan in Wellesley, Massachusetts was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Rbs Citizens, operating out of Cranston, Rhode Island. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL SPORTS CLUBS AND PROMOTERS
WELLESLEY, MA 02481

SBA Loan Lender

RBS CITIZENS
85 SOCKANOSSET CROSS RD
CRANSTON, RI 02920

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7941 - Professional Sports Clubs and Promoters

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

1/3/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 22 employees. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We can help you find the best banks for small businesses in Wellesley 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:

Role of Business Plan When Raising Money

Banks in Cranston, Rhode Island

Getting a Business Loan in Rhode Island