Colorado Springs, Colorado Business Gets SBA-Guaranteed Funding from Pueblo Bank & Trust
Pueblo Bank & Trust is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Colorado entrepreneur who tapped into the power of SBA loans.
This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Pueblo Bank & Trust, out of Colorado Springs, Colorado. The loan was granted and they received $125,000 to help grow their Colorado Springs, Colorado business.
SBA Loan Borrower
COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS
COLORADO SPRINGS, CO 80907
SBA Loan Lender
PUEBLO BANK & TRUST
1515 N ACADEMY BLVD
COLORADO SPRINGS, CO 80909
This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
238110 - Poured Concrete Foundation and Structure Contractors
Loan Approval Date
5/15/2006
Loan Approval Gross Amount
$125,000
Loan Approval from the SBA
Of the total $125,000 loan amount, the SBA guaranteed $106,250.
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 3 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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:
Borrowing Money from Friends and Family
SBA Approved Banks in Colorado Springs, Colorado
SBA Colorado Lenders