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May 4, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Glen Allen, Business Loans > Capital One Bank (usa) Glen Allen Business Loans > Machine Shops Loan | ||||
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Small Business Banks for Colorado Springs, Colorado Small Business Owners
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Colorado Bank Loan Issued to Machine Shops CompanyBank loans in Colorado are tough to come by these days. We take a look at one Colorado bank loan, provided by a Virginia bank, that was approved by the SBA. This small business, based in Colorado Springs, Colorado, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Capital One Bank (usa). We've got the inside scoop on this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender CAPITAL ONE BANK (USA) This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 332710 - Machine Shops Loan Approval Date 8/30/2007 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Who Lends Money to Small Businesses in Glen Allen, Virginia
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