Amusement and Recreation Industries Small Business Loans

Looking for small business loans for amusement and recreation industries? Talk to a banker who works with the SBA. This $24,300 amusement and recreation industries loan was issued by a Colorado bank.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Alpine Bank, out of Telluride, Colorado. The loan was granted and they received $24,300 to help grow their Ophir, Colorado business.

SBA Loan Borrower

COMPANY TYPE: MEMBERSHIP SPORTS AND RECREATION CLUBS
OPHIR, CO 81426

SBA Loan Lender

ALPINE BANK
120 S PINE ST
TELLURIDE, CO 81435

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7997 - Membership Sports and Recreation Clubs

NAICS Code

713990 - Amusement and Recreation Industries

Loan Approval Date

3/6/2001

Loan Approval Gross Amount

$24,300

Loan Approval from the SBA

Of the total $24,300 loan amount, the SBA guaranteed $20,655.

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 2 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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