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May 2, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Borrego Springs, Business Loans > Borrego Springs Bank Borrego Springs Business Loans > Sporting And Recreational Goods And Supplies Merchant Wholesalers Loan | ||||
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What Does It Take to Get a Business Loan in Littleton, Colorado?
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Commercial Loans for Sporting and Recreational Goods and Supplies Merchant WholesalersLooking for commercial loans for sporting and recreational goods and supplies merchant wholesalers? Talk to a banker who works with the SBA. This $384,000 sporting and recreational goods and supplies merchant wholesalers loan was issued by a California bank. This business knew how to go about getting a business bank loan. Based in Littleton, Colorado, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Borrego Springs Bank, based in Borrego Springs, California. SBA Loan Borrower COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender BORREGO SPRINGS BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers Loan Approval Date 11/18/2004 Loan Approval Gross Amount $384,000 Loan Approval from the SBA Of the total $384,000 loan amount, the SBA guaranteed $288,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Borrego Springs Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Banks in Borrego Springs, California
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