Glenwood Springs, Missouri Entrepreneur Gets a Business Loan

Searching for a Missouri bank loan? This Missouri entrepreneur got a bank loan, provided by a Colorado bank that works with the SBA to help small business owners.

Getting a small business loan in Glenwood Springs, Missouri was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Alpine Bank. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
GLENWOOD SPRINGS, MO 81601

SBA Loan Lender

ALPINE BANK
2200 S GRAND AVE
GLENWOOD SPRINGS, CO 81601

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

7/26/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 6 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Glenwood Springs MO, you ought to talk with a local Glenwood Springs SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Glenwood Springs businesses.

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:

The Friends and Family Network

SBA Participating Banks in Glenwood Springs, Colorado

SBA Lenders in Colorado