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March 28, 2024  
 
 
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Getting an SBA Loan from Community Banks Of Colorado

 

 
Loan Census SBA Loan Info

Ft. Garland, Colorado Business Gets SBA-Guaranteed Funding from Community Banks Of Colorado

Community Banks Of Colorado and the SBA work together to get business loans for growing small businesses. Here's an example of how a Colorado entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Ft. Garland, Colorado was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Community Banks Of Colorado, operating out of La Jara, Colorado. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: CARPENTRY CONTRACTORS
FT. GARLAND, CO 81133

SBA Loan Lender

COMMUNITY BANKS OF COLORADO
501 MAIN ST
LA JARA, CO 81140

This lender issued this SBA bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235510 - Carpentry Contractors

Loan Approval Date

11/28/2001

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

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 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

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:

Realistic Debt Financing Options

Banks in La Jara, Colorado

SBA Participating Banks in Colorado