How to Get a Loan for Amusement and Recreation Industries

Looking for SBA loans for amusement and recreation industries? The SBA may be the answer. This $390,000 amusement and recreation industries loan was issued by an Indiana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kokomo, Indiana was able to borrow $390,000 from Harris National Association. The SBA made the loan possible by guaranteeing $292,500 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES
KOKOMO, IN 46901

SBA Loan Lender

HARRIS NATIONAL ASSOCIATION
101 W SYCAMORE ST
KOKOMO, IN 46904

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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.

SIC Code

7999 - Amusement and Recreation Services

NAICS Code

713990 - Amusement and Recreation Industries

Loan Approval Date

11/25/2002

Loan Approval Gross Amount

$390,000

Loan Approval from the SBA

Of the total $390,000 loan amount, the SBA guaranteed $292,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Harris National Association 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:

Banking Deregulation's Effects on Entrepreneurship

SBA 7A Banks in Kokomo, Indiana

Indiana SBA 7A Lenders