Sporting Goods Stores Commercial Loans

Looking for commercial loans for sporting goods stores? An SBA loan may be just what you've been looking for. This $82,369 sporting goods stores loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Onalaska, Minnesota was able to borrow $82,369 from Merchants Bank. The SBA made the loan possible by guaranteeing $70,014 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
ONALASKA, MN 54650

SBA Loan Lender

MERCHANTS BANK
102 E THIRD ST
WINONA, MN 55987

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

5/23/2003

Loan Approval Gross Amount

$82,369

Loan Approval from the SBA

Of the total $82,369 loan amount, the SBA guaranteed $70,014.

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 5 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Merchants Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Merchants Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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