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April 20, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Colorado Springs, Business Loans > Colorado National Bank Colorado Springs Business Loans > Full-Service Restaurants Loan | ||||
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Who Lends Money to Colorado Springs Small Businesses
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Colorado Springs, Colorado Entrepreneur Gets a Small Business LoanColoradoSBA loans are available to Colorado entrepreneurs through the SBA. In this case, a Colorado bank provides the loan. You can learn something about getting a small business loan in Colorado Springs, Colorado by studying this loan to a local business, made back in 2005. Banks like Colorado National Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender COLORADO NATIONAL BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA 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 722110 - Full-Service Restaurants Loan Approval Date 9/20/2005 Loan Approval Gross Amount $636,300 Loan Approval from the SBA Of the total $636,300 loan amount, the SBA guaranteed $477,225. 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 17 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you want money for new small business in Colorado Springs CO, you ought to talk with a local Colorado Springs SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Colorado Springs businesses. 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: How Much Venture Capital Is There? Find an SBA Lender in Colorado Springs, Colorado
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