Bank Loans for Fitness and Recreational Sports Centers
With these bank loans for fitness and recreational sports centers, the SBA guarantees the lender that the loan will be repaid. This fitness and recreational sports centers loan for $75,000 was given to a Massachusetts entrepreneur in 2001.
This small firm knew how to go about getting a business bank loan. Based in Haverhill, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Sovereign Bank, based in Lawrence, Massachusetts.
SBA Loan Borrower
COMPANY TYPE: PHYSICAL FITNESS FACILITIES
HAVERHILL, MA 01830
SBA Loan Lender
296 ESSEX ST
LAWRENCE, MA 01842
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
7991 - Physical Fitness Facilities
713940 - Fitness and Recreational Sports Centers
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $75,000 loan amount, the SBA guaranteed $63,750.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 7 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide smart, affordable business financing for small businesses looking to expand.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Sovereign Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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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