How to Get a Loan for Fitness and Recreational Sports Centers

With these commercial 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 $25,000 was given to a Rhode Island entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in West Kingston (kingston (sta.), Rhode Island was able to borrow $25,000 from Rbs Citizens. The SBA made the loan possible by guaranteeing $12,500 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
WEST KINGSTON (KINGSTON (STA.), RI 02891

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLZ
PROVIDENCE, RI 02903

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

3/29/2002

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Rbs Citizens and they will explain how you can get an SBA loan for your company.

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:

The Friends and Family Network

Who Lends Money to Small Businesses in Providence, Rhode Island

Rhode Island SBA 7A Lenders