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May 22, 2024  
 
 
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Examples of Montrose SBA Loans

 

 
Loan Census SBA Loan Info

Financing for Pump and Pumping Equipment Manufacturing

Looking for commercial loans for pump and pumping equipment manufacturing? The SBA may be the answer. This $135,000 pump and pumping equipment manufacturing loan was issued by a Colorado bank.

Getting a small business loan in Montrose, Colorado was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Alpine Bank, operating out of Montrose, Colorado. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: PUMP AND PUMPING EQUIPMENT MANUFACTURING
MONTROSE, CO 81401

SBA Loan Lender

ALPINE BANK
1400 E MAIN ST
MONTROSE, CO 81401

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333911 - Pump and Pumping Equipment Manufacturing

Loan Approval Date

8/3/2004

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

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 application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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.

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 Alpine 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:

Bank Credit Lines

Best Banks in Montrose, Colorado

Getting an SBA Loan in Colorado