 |
 |
May 9, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Colorado Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Special Trade Contractors Loan | ||||
 |
||||
What Does It Take to Get a Business Loan in Littleton, Colorado?
|
||||
 |
Special Trade Contractors Business LoansLooking for business loans for special trade contractors? The SBA may be the answer. This $450,000 special trade contractors loan was issued by an Utah bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Littleton, Colorado was able to borrow $450,000 from Bank Of The West. The SBA made the loan possible by guaranteeing $337,500 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: SPECIAL TRADE CONTRACTORS SBA Loan Lender BANK OF THE WEST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235990 - Special Trade Contractors Loan Approval Date 5/15/2002 Loan Approval Gross Amount $450,000 Loan Approval from the SBA Of the total $450,000 loan amount, the SBA guaranteed $337,500. 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 9 employees. This SBA loan request indicated that the loan would help retain 9 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source 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 Bank Of The West 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: Where to Get an SBA Loan in Salt Lake City, Utah Browse All Business Loan Sources for Utah
|
|
||
|
||||
|
|
||||