SBA Loans for Sports and Recreation Instruction

With these SBA loans for sports and recreation instruction, the SBA guarantees the lender that the loan will be repaid. This sports and recreation instruction loan for $50,000 was given to a Florida entrepreneur in 2003.

Getting a small business loan in Miami Lakes, Florida was important for Ata Martial Arts Center Of Roy back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Ocean Bank, operating out of Miami, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

ATA MARTIAL ARTS CENTER OF ROY
15470 N.W. 77TH COURT
MIAMI LAKES, FL 33015

SBA Loan Lender

OCEAN BANK
780 NW 42ND AVE
MIAMI, FL 33126

This was a Low Documentation SBA loan. The SBA created this program to limit 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7999 - Amusement and Recreation Services, N.E.C.

NAICS Code

611620 - Sports and Recreation Instruction

Loan Approval Date

9/12/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower, Ata Martial Arts Center Of Roy, 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 22 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. This loan was paid in full, and was closed out on 5/30/2007.

Great, But How Can I Get an SBA Loan for My 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.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this Ata Martial Arts Center Of Roy loan from Ocean Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

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