SBA Loan from Newtek Small Business Finance Inc. Helps Sporting Goods Stores Company
Newtek Small Business Finance Inc. and the SBA work together to get business loans for growing small businesses. Here's an example of how a Colorado entrepreneur was able to get a loan to take a small business to the next level.
This growing company knew how to go about getting a business bank loan. Based in Colorado Springs, Colorado, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Newtek Small Business Finance Inc., based in New York, New York.
SBA Loan Borrower
COMPANY TYPE: SPORTING GOODS STORES
COLORADO SPRINGS, CO 80923
SBA Loan Lender
NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
451110 - Sporting Goods Stores
Loan Approval Date
6/29/2007
Loan Approval Gross Amount
$51,000
Loan Approval from the SBA
Of the total $51,000 loan amount, the SBA guaranteed $43,350.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 8 existing jobs.
Next Steps for Getting an SBA Loan
If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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:
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