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March 28, 2024  
 
 
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Business Loans for Montrose Small Business Owners

 

 
Loan Census SBA Loan Info

Full-Service Restaurants Commercial Loans

Looking for commercial loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $212,000 full-service restaurants loan was issued by a Colorado bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Montrose, Colorado was able to borrow $212,000 from First State Bank Of Hotchkiss. The SBA made the loan possible by guaranteeing $159,000 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MONTROSE, CO 81401

SBA Loan Lender

FIRST STATE BANK OF HOTCHKISS
102 E BRIDGE ST
HOTCHKISS, CO 81419

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/31/2003

Loan Approval Gross Amount

$212,000

Loan Approval from the SBA

Of the total $212,000 loan amount, the SBA guaranteed $159,000.

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 only one employee. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First State Bank Of Hotchkiss so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Advice on Getting a Small Business Loan

SBA 7A Lenders in Hotchkiss, Colorado

Getting a Business Loan in Colorado