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May 17, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Harrisburg, Business Loans > Mid Penn Bank Harrisburg Business Loans > Physical Fitness Facilities Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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Where to Get Capital for Fitness and Recreational Sports CentersWith these small 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 $67,748 was given to a Pennsylvania entrepreneur in 2002. Getting a small business loan in Lemoyne, Pennsylvania was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Mid Penn Bank, operating out of Harrisburg, Pennsylvania. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICAL FITNESS FACILITIES SBA Loan Lender MID PENN BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7991 - Physical Fitness Facilities NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 12/16/2002 Loan Approval Gross Amount $67,748 Loan Approval from the SBA Of the total $67,748 loan amount, the SBA guaranteed $57,585. More Information on This SBA Loan The borrower borrowed this money for an existing 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 22 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Accountant's Role in Securing Financing SBA 7A Banks in Harrisburg, Pennsylvania
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