Small Business Loans for Sporting Goods Stores

With these small business loans for sporting goods stores, the SBA guarantees the lender that the loan will be repaid. This sporting goods stores loan for $55,000 was given to a North Carolina entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Albemarle, North Carolina was able to borrow $55,000 from First-Citizens Bank & Trust. The SBA made the loan possible by guaranteeing $46,750 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
ALBEMARLE, NC 28001

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
100 E TRYON RD
RALEIGH, NC 27603

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

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

12/13/2001

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

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 4 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First-Citizens Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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