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April 23, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Full-Service Restaurants Loan | ||||
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SBA 7A Banks for Small Business Owners in Colorado
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Company Gets a Colorado Small Business LoanColoradoSBA loans are available to Colorado entrepreneurs through the SBA. In this case, a California bank provides the loan. Getting a small business loan in Colorado Springs, Colorado was a top priority for this particular business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank. Here are the details on this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender WELLS FARGO BANK This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 6/28/2006 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 23 employees. The SBA loan application for the borrower indicated that the borrowed money would help generate 23 new jobs. Getting an SBA Loan For Your Business If you are wondering how to raise money for a company 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: Role of Business Plan When Raising Money Best Banks in San Jose, California Getting a Business Loan in California
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