Getting an SBA Loan for Prerecorded Tape, Compact Disc, and Record Stores

Looking for SBA loans for prerecorded tape, compact disc, and record stores? The SBA may be the answer. This $100,000 prerecorded tape, compact disc, and record stores loan was issued by a Colorado bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Durango, Colorado was able to borrow $100,000 from Bank Of The San Juans. The SBA made the loan possible by guaranteeing $85,000 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: PRERECORDED TAPE, COMPACT DISC, AND RECORD STORES
DURANGO, CO 81301

SBA Loan Lender

BANK OF THE SAN JUANS
144 E 8TH ST
DURANGO, CO 81301

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451220 - Prerecorded Tape, Compact Disc, and Record Stores

Loan Approval Date

6/12/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Durango CO, you ought to talk with a local Durango SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Durango businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of The San Juans that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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Best Durango, Colorado Banks for Small Business

Colorado SBA Banks