SBA: We Helped Phelps
I guess you can't blame the Small Business Administration for doing what Kobe Bryant, LeBron James and everybody else is doing these days: Jumping on the Michael Phelps bandwagon.
This factoid just made its way to our offices, courtesy of the folks at the SBA public affairs office:
The Meadowbrook Aquatic & Fitness Club in Baltimore, MD, home training facility of Olympians Michael Phelps and Katie Hoff, received SBA financing through a 504 loan in 1994.In 1987, new owners purchased Meadowbrook and began a transformation
from a pool of the past to a facility for the future. They wanted to
create an aquatics venue in Baltimore comparable to competitive training
centers in Florida and California. Ground was broken in December of
1994 for the indoor pools which began year-round operation in September
of 1995.SBA's 504 program provides long-term, fixed-rate, subordinate mortgage
financing for acquiring or renovating capital assets including land,
buildings and equipment.
ABOUT THIS BLOG
Government Executive Staff Correspondent Alyssa Rosenberg takes a look at news affecting the management and operations of the massive federal bureaucracy.
Post a Comment
By using this Service you agree not to post material that is obscene, harassing, defamatory, or otherwise objectionable. Although GovExec does not monitor comments posted to this site (and has no obligation to), it reserves the right to delete, edit, or move any material that it deems to be in violation of this rule.