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May 3, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Denver, Business Loans > Premier Bank Denver Business Loans > Full-Service Restaurants Loan | ||||
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Raising Money in Denver, Colorado With SBA Loans
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Commercial Loans for Full-Service RestaurantsLooking for commercial loans for full-service restaurants? Talk to a banker who works with the SBA. This $722,500 full-service restaurants loan was issued by a Colorado bank. This business knew how to go about getting a business bank loan. Based in Denver, Colorado, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Premier Bank, based in Denver, Colorado. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender PREMIER 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 722110 - Full-Service Restaurants Loan Approval Date 9/12/2003 Loan Approval Gross Amount $722,500 Loan Approval from the SBA Of the total $722,500 loan amount, the SBA guaranteed $541,875. 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 only one employee. The loan application indicated that the loan would help create 10 new jobs. Getting an SBA Loan For Your Business 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Banks in Denver, Colorado
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