Hobby, Toy, and Game Stores Loans

With these loans for hobby, toy, and game stores, the SBA guarantees the lender that the loan will be repaid. This hobby, toy, and game stores loan for $65,600 was given to a North Dakota entrepreneur in 2000.

This company knew how to go about getting a business bank loan. Based in Grand Forks, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Bremer Bank, based in Grand Forks, North Dakota.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
GRAND FORKS, ND 58201

SBA Loan Lender

BREMER BANK
3100 S COLUMBIA RD
GRAND FORKS, ND 58201

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5941 - Sporting Goods Stores and Bicycle Shops

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

10/16/2000

Loan Approval Gross Amount

$65,600

Loan Approval from the SBA

Of the total $65,600 loan amount, the SBA guaranteed $52,480.

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 10 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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