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April 29, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Hotels And Motels Loan | ||||
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Nara Bank Business Loans Colorado Springs, CO
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Colorado Springs, Colorado Business Gets SBA-Guaranteed Funding from Nara BankNara Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Colorado entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Colorado Springs, Colorado was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Nara Bank, operating out of Los Angeles, California. Here are the details on this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender NARA BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 8/11/2005 Loan Approval Gross Amount $475,000 Loan Approval from the SBA Of the total $475,000 loan amount, the SBA guaranteed $356,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Nara Bank and they will explain how you can get an SBA loan for your company. 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: Role of Business Plan When Raising Money SBA 7A Banks for Los Angeles, California Loans
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