Borrowing Money for Sporting Goods Stores
Looking for small business loans for sporting goods stores? Talk to a banker who works with the SBA. This $150,000 sporting goods stores loan was issued by an Ohio bank.
This small firm knew how to go about getting a business bank loan. Based in Findlay, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was First Fed. Bank - Midwest, based in Findlay, Ohio.
SBA Loan Borrower
COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
FINDLAY, OH 45840
SBA Loan Lender
FIRST FED. BANK - MIDWEST
3900 N MAIN ST
FINDLAY, OH 45840
This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5941 - Sporting Goods Stores and Bicycle Shops
NAICS Code
451110 - Sporting Goods Stores
Loan Approval Date
5/23/2002
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 10 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans provide smart, affordable business financing for small businesses looking to expand.
This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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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