Commercial Loans for Sports and Recreation Instruction

Looking for commercial loans for sports and recreation instruction? Talk to a banker who works with the SBA. This $60,000 sports and recreation instruction loan was issued by a Minnesota bank.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Woodlands National Bank, out of Sturgeon Lake, Minnesota. The loan was granted and they received $60,000 to help grow their Plymouth, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION
PLYMOUTH, MN 55441

SBA Loan Lender

WOODLANDS NATIONAL BANK
8891 MARKET ST
STURGEON LAKE, MN 55783

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611620 - Sports and Recreation Instruction

Loan Approval Date

4/24/2006

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $45,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $60,000 loan. Remember, things become real when you believe you can achieve them!

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

SBA 7A Banks in Sturgeon Lake, Minnesota

SBA Lenders in Minnesota