Raising Money for Fitness and Recreational Sports Centers

With these business 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 $1,286,500 was given to a Minnesota entrepreneur in 2005.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Prosperan Bank, out of Oakdale, Minnesota. The loan was granted and they received $1,286,500 to help grow their Woodbury, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
WOODBURY, MN 55125

SBA Loan Lender

PROSPERAN BANK
990 HELENA AVE NORTH
OAKDALE, MN 55128

This lender issued this debt financing under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

7/26/2005

Loan Approval Gross Amount

$1,286,500

Loan Approval from the SBA

Of the total $1,286,500 loan amount, the SBA guaranteed $964,875.

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 8 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Prosperan 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.

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