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April 16, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Durango, Business Loans > 1st National Bank - Durango Durango Business Loans > Excavation Work Loan | ||||
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Get a Small Business Loan in Durango, Colorado
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Durango, Colorado Entrepreneur Gets an SBA LoanColoradoBank loans are available to Colorado firms through the SBA. In this case, a Colorado bank provides the loan. This business, based in Durango, 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 1st National Bank - Durango. We've got the inside scoop on this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: EXCAVATION WORK SBA Loan Lender 1ST NATIONAL BANK - DURANGO This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending background and a thorough understanding of SBA policies and procedures. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1794 - Excavation Work NAICS Code 235930 - Excavation Contractors Loan Approval Date 3/3/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like 1st National Bank - Durango 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: SBA Approved Banks in Durango, Colorado
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