How to Get a Loan for Sporting Goods Stores

Looking for SBA loans for sporting goods stores? Try the SBA. This $392,000 sporting goods stores loan was issued by an Ohio bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newbury, Ohio was able to borrow $392,000 from Middlefield Bank Co. The SBA made the loan possible by guaranteeing $294,000 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
NEWBURY, OH 44065

SBA Loan Lender

MIDDLEFIELD BANK CO
11110 KINSMAN RD STE 1
NEWBURY, OH 44065

This lender issued this bank loan under the 7A SBA 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

451110 - Sporting Goods Stores

Loan Approval Date

8/29/2007

Loan Approval Gross Amount

$392,000

Loan Approval from the SBA

Of the total $392,000 loan amount, the SBA guaranteed $294,000.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

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.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? 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.

Related Links:

Microlending as a Small Business Funding Source

Small Business Banks in Newbury, Ohio

SBA Ohio Lenders