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April 16, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Fort Collins, Business Loans > First National Bank Fort Collins Business Loans > Commercial Photography Loan | ||||
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SBA Lender Fort Collins
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Fort Collins, Colorado Bank Lends Money to Commercial Photography Company in Fort Collins, ColoradoA Fort Collins, Colorado small business loan can be yours. Learn how a company got a $13,500 business loan from this Colorado bank. This loan to an entrepreneur is a good example of an SBA loan. First National Bank made the loan and the SBA guaranteed a portion of the loan. Many other Colorado entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: COMMERCIAL PHOTOGRAPHY SBA Loan Lender FIRST NATIONAL BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541922 - Commercial Photography Loan Approval Date 10/3/2002 Loan Approval Gross Amount $13,500 Loan Approval from the SBA Of the total $13,500 loan amount, the SBA guaranteed $11,475. 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. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA 7A Lenders in Fort Collins, Colorado Browse All Business Loan Sources for Colorado
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