Local Business Gets a Colorado Bank Loan

Would a Colorado business loan help your company expand? If so, you may want to talk with this Colorado bank, which offers SBA loans to Colorado entrepreneurs.

You can learn something about getting a small business loan in Salida, Colorado by studying this loan to a local business, made back in 2005. Banks like Community Banks - Colorado D/b may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: SMALL ARMS MANUFACTURING
SALIDA, CO 81201

SBA Loan Lender

COMMUNITY BANKS - COLORADO D/B
7480 W HWY 50
SALIDA, CO 81201

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332994 - Small Arms Manufacturing

Loan Approval Date

1/28/2005

Loan Approval Gross Amount

$499,000

Loan Approval from the SBA

Of the total $499,000 loan amount, the SBA guaranteed $374,250.

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 16 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community Banks - Colorado D/b and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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