Raising Money for Promoters of Performing Arts, Sports, and Similar Events with Facilities

Looking for business loans for promoters of performing arts, sports, and similar events with facilities? An SBA loan may be just what you've been looking for. This $200,000 promoters of performing arts, sports, and similar events with facilities loan was issued by an Iowa bank.

This small business knew how to go about getting a business bank loan. Based in Webster City, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was First American Bank, based in Fort Dodge, Iowa.

SBA Loan Borrower

COMPANY TYPE: PROMOTERS OF PERFORMING ARTS, SPORTS, AND SIMILAR EVENTS WITH FACILITIES
WEBSTER CITY, IA 50595

SBA Loan Lender

FIRST AMERICAN BANK
1207 CENTRAL AVE
FORT DODGE, IA 50501

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

711310 - Promoters of Performing Arts, Sports, and Similar Events with Facilities

Loan Approval Date

12/28/2007

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

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.

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:

Obtaining Funding - Getting Venture Capital

Small Business Banks in Fort Dodge, Iowa

Find an SBA Lender in Iowa