How to Get a Loan for Sporting Goods Stores

With these SBA loans for sporting goods stores, the SBA guarantees the lender that the loan will be repaid. This sporting goods stores loan for $71,440 was given to a New York entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Watertown, New York was able to borrow $71,440 from Watertown Savings Bank. The SBA made the loan possible by guaranteeing $60,724 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
WATERTOWN, NY 13601

SBA Loan Lender

WATERTOWN SAVINGS BANK
111 CLINTON ST
WATERTOWN, NY 13601

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

2/11/2003

Loan Approval Gross Amount

$71,440

Loan Approval from the SBA

Of the total $71,440 loan amount, the SBA guaranteed $60,724.

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 small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 Watertown Savings Bank 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.

SBA Approved Banks in Watertown, New York

SBA Lenders in New York

Raising Money in Watertown, New York With SBA Loans

How to Get a Loan for Sporting Goods Stores