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March 29, 2024  
 
 
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Advantage Bank Business Loans Loveland, Colorado

 

 
Loan Census SBA Loan Info

Loveland, Colorado Business Gets SBA-Guaranteed Funding from Advantage Bank

Advantage Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Colorado entrepreneur who tapped into the power of SBA loans.

This business knew how to go about getting a business bank loan. Based in Loveland, Colorado, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Advantage Bank, based in Loveland, Colorado.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
LOVELAND, CO 80537

SBA Loan Lender

ADVANTAGE BANK
1475 N DENVER AVE
LOVELAND, CO 80538

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

518111 -

Loan Approval Date

6/6/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 8 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Business Line of Credit

SBA 7A Banks for Loveland, Colorado Loans

Find an SBA Lender in Colorado