Where to Get Capital for Amusement and Recreation Industries

With these small business loans for amusement and recreation industries, the SBA guarantees the lender that the loan will be repaid. This amusement and recreation industries loan for $39,500 was given to a Minnesota entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Winona, Minnesota was able to borrow $39,500 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $33,575 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED AMUSEMENT DEVICES
WINONA, MN 59870

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7993 - Coin-Operated Amusement Devices

NAICS Code

713990 - Amusement and Recreation Industries

Loan Approval Date

9/5/2003

Loan Approval Gross Amount

$39,500

Loan Approval from the SBA

Of the total $39,500 loan amount, the SBA guaranteed $33,575.

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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Microlending as a Small Business Funding Source

Small Bank Loans in Minneapolis, Minnesota

SBA Participating Banks in Minnesota