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March 29, 2024  
 
 
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Colorado Springs, Colorado Bank Loan

 

 
Loan Census SBA Loan Info

Adams Bank & Trust Provides SBA Loan to Buy Cottage Care Franchise

Need money to purchase a Cottage Care franchise? Adams Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Colorado Springs, Colorado needed money to invest in a Cottage Care franchise back in 2001. Adams Bank & Trust issued an SBA franchise loan. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COTTAGE CARE
COLORADO SPRINGS, CO 80917

SBA Loan Lender

ADAMS BANK & TRUST
8 S NEVADA AVE
COLORADO SPRINGS, CO 80903

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program requires 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

561720 - Janitorial Services

Loan Approval Date

11/6/2001

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. This loan was used to buy a Cottage Care franchise. At the time of the loan, the company had 16 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Adams Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

CottageCare Inc.

Accountant's Role in Securing Financing

SBA Banks in Colorado Springs, Colorado

SBA Participating Banks in Colorado