Sporting Goods Stores Bank Loans

With these bank loans for sporting goods stores, the SBA guarantees the lender that the loan will be repaid. This sporting goods stores loan for $31,500 was given to a Washington entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lakewood, Washington was able to borrow $31,500 from Columbia State Bank. The SBA made the loan possible by guaranteeing $25,200 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
LAKEWOOD, WA 98498

SBA Loan Lender

COLUMBIA STATE BANK
1301-A ST, STE 800
TACOMA, WA 98402

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

5/17/2000

Loan Approval Gross Amount

$31,500

Loan Approval from the SBA

Of the total $31,500 loan amount, the SBA guaranteed $25,200.

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 9 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to borrow money from friends and family, 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.

Related Links:

Debt Financing

Where to Get an SBA Loan in Tacoma, Washington

SBA Participating Banks in Washington