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March 29, 2024  
 
 
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I Need an SBA Loan in Smyma, Delaware

 

 
Loan Census SBA Loan Info

How to Get a Loan for Sporting Goods Stores

Looking for business loans for sporting goods stores? Try the SBA. This $32,000 sporting goods stores loan was issued by a Delaware bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Wilmington Savings Fund Societ, out of Wilmington, Delaware. The loan was granted and they received $32,000 to help grow their Smyma, Delaware business.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
SMYMA, DE 19977

SBA Loan Lender

WILMINGTON SAVINGS FUND SOCIET
500 DELAWARE AVE
WILMINGTON, DE 19801

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

4/10/2002

Loan Approval Gross Amount

$32,000

Loan Approval from the SBA

Of the total $32,000 loan amount, the SBA guaranteed $27,200.

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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

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.

Related Links:

Advice on Getting a Small Business Loan

Good Banks for Small Business in Wilmington, Delaware

SBA Lenders in Delaware