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November 15, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Chesterfield, Business Loans > Bank Midwest Chesterfield Business Loans > Lawn And Garden Equipment Loan | ||||
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Colorado Small Business SBA Loans
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Aurora, Colorado Entrepreneur Gets a Business LoanBank loans in Colorado are hard to find these days. We take a look at one Colorado bank loan, provided by a Missouri bank, that was approved by the SBA. Getting a small business loan in Aurora, Colorado was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Midwest. Here are the details on this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: LAWN AND GARDEN EQUIPMENT SBA Loan Lender BANK MIDWEST 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3524 - Lawn and Garden Equipment Loan Approval Date 3/1/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 10 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Find an SBA Lender in Chesterfield, Missouri
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