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April 29, 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 > Used Car Dealers Loan | ||||
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How to Get SBA Loans in Denver, Colorado
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Get an SBA Loan for Used Car DealersLooking for small business loans for used car dealers? Talk to a banker who works with the SBA. This $50,000 used car dealers loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Denver, Colorado was able to borrow $50,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $25,000 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender WELLS FARGO BANK The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 441120 - Used Car Dealers Loan Approval Date 2/13/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Role of Business Plan When Raising Money SBA Participating Banks in San Jose, California
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