Company Gets a Colorado SBA Loan

Would a Colorado SBA loan help your business get to the next level? If so, you may want to talk with this Colorado bank, which offers SBA loans to Colorado entrepreneurs.

You can learn something about getting a small business loan in Steamboat Springs, Colorado by studying this loan to a local business, made back in 2004. Banks like First National Bank - Steamboat Spri may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
STEAMBOAT SPRINGS, CO 80487

SBA Loan Lender

FIRST NATIONAL BANK - STEAMBOAT SPRI
600 S LINCOLN AVE
STEAMBOAT SPRINGS, CO 80477

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . 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. 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

448140 - Family Clothing Stores

Loan Approval Date

5/12/2004

Loan Approval Gross Amount

$63,000

Loan Approval from the SBA

Of the total $63,000 loan amount, the SBA guaranteed $53,550.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 First National Bank - Steamboat Spri 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.

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