Colorado Springs, Colorado Entrepreneur Gets a Small Business Loan
Small business loans in Colorado are tough to come by these days. We take a look at one Colorado small business loan, provided by a New Mexico bank, that was approved by the SBA.
This company, based in Colorado Springs, Colorado, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Community Bank. We've got the inside scoop on this Colorado small business loan.
SBA Loan Borrower
COMPANY TYPE: APPLIANCE REPAIR AND MAINTENANCE
Colorado Springs, CO 80907
SBA Loan Lender
FIRST COMMUNITY BANK
120 W PLAZA
TAOS, NM 87571
This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
811412 - Appliance Repair and Maintenance
Loan Approval Date
3/21/2007
Loan Approval Gross Amount
$650,000
Loan Approval from the SBA
Of the total $650,000 loan amount, the SBA guaranteed $487,500.
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 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.
Start the Process for Getting an SBA Loan Today!
Many small businesses receive loans backed by the U.S. Small Business Administration.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $650,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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
Where to Get an SBA Loan in Taos, New Mexico
New Mexico SBA 7A Lenders