Getting an SBA Loan for Fitness and Recreational Sports Centers

Looking for commercial loans for fitness and recreational sports centers? The SBA may be the answer. This $25,000 fitness and recreational sports centers loan was issued by a Wisconsin bank.

Getting a small business loan in Winona, Minnesota was important for this business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Alliance Bank, operating out of Cochrane, Wisconsin. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MEMBERSHIP SPORTS AND RECREATION CLUBS
WINONA, MN 55987

SBA Loan Lender

ALLIANCE BANK
103 S MAIN
COCHRANE, WI 54622

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7997 - Membership Sports and Recreation Clubs

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

8/22/2000

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $20,000.

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 2 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

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 Alliance 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:

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SBA 7A Banks for Cochrane, Wisconsin Loans

Wisconsin SBA Bank Lenders