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May 7, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Taos, Business Loans > First Community Bank Taos Business Loans > Used Household And Office Goods Moving Loan | ||||
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First Community Bank Commercial Loans
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Borrowing Money for Used Household and Office Goods MovingLooking for bank loans for used household and office goods moving? The SBA may be the answer. This $100,000 used household and office goods moving loan was issued by a New Mexico bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fort Collins, Colorado was able to borrow $100,000 from First Community Bank. The SBA made the loan possible by guaranteeing $50,000 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: USED HOUSEHOLD AND OFFICE GOODS MOVING SBA Loan Lender FIRST COMMUNITY BANK The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 484210 - Used Household and Office Goods Moving Loan Approval Date 2/5/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 45 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Community Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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:
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