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April 19, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Durango, Business Loans > 1st National Bank - Durango Durango Business Loans > Formal Wear And Costume Rental Loan | ||||
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Best Banks That Lend to Colorado Small Businesses
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Company Gets a Colorado Business LoanColoradoSBA loans are available to Colorado entrepreneurs through the SBA. In this case, a Colorado bank provides the loan. By giving the right information to 1st National Bank - Durango, this Durango, Colorado business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: FORMAL WEAR AND COSTUME RENTAL SBA Loan Lender 1ST NATIONAL BANK - DURANGO This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 532220 - Formal Wear and Costume Rental Loan Approval Date 10/5/2004 Loan Approval Gross Amount $42,500 Loan Approval from the SBA Of the total $42,500 loan amount, the SBA guaranteed $36,125. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We can help you find the best banks for small businesses in Durango or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Raising VC Money for Social Networking Companies Small Bank Loans in Durango, Colorado
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