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April 23, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Loveland, Business Loans > Advantage Bank Loveland Business Loans > Women's And Girls' Cut And Sew Dress Manufacturing Loan | ||||
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Advantage Bank
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SBA Loan from Advantage Bank Helps Women's And Girls' Cut And Sew Dress Manufacturing CompanyAdvantage Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Colorado entrepreneur was able to get a loan to take a small business to the next level. This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Advantage Bank, out of Loveland, Colorado. The loan was granted and they received $50,000 to help grow their Loveland, Colorado business. SBA Loan Borrower COMPANY TYPE: WOMEN'S AND GIRLS' CUT AND SEW DRESS MANUFACTURING SBA Loan Lender ADVANTAGE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 315233 - Women's and Girls' Cut and Sew Dress Manufacturing Loan Approval Date 9/11/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 3 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Advantage Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Obtaining Funding - How to Decide How Much to Raise Small Business Banks in Loveland, Colorado
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