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April 24, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Falcon, Business Loans > Farmers State Bank Falcon Business Loans > Limited-Service Restaurants Loan | ||||
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Simia, Colorado Bank Loan
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Simia, Colorado Entrepreneur Gets a Bank LoanWould a Colorado bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Colorado bank, which offers SBA loans to Colorado entrepreneurs. By giving the right information to Farmers State Bank, this Simia, Colorado business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender FARMERS STATE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 4/11/2002 Loan Approval Gross Amount $88,100 Loan Approval from the SBA Of the total $88,100 loan amount, the SBA guaranteed $74,885. 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 5 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Role of Business Plan When Raising Money SBA Participating Banks in Falcon, Colorado
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