Colorado Entrepreneur Secures Financing to Buy Verlo Mattress Factory Stores Franchise

Need money to purchase a Verlo Mattress Factory Stores franchise? United Western Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Aurora, Colorado needed money to invest in a Verlo Mattress Factory Stores franchise back in 2000. United Western Bank issued an SBA franchise loan. Here are the details on this Colorado small business loan.

SBA Loan Borrower

VERLO MATTRESS FACTORY STORES
AURORA, CO 80016

SBA Loan Lender

UNITED WESTERN BANK
700 17TH ST, STE 100
DENVER, CO 80202

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422110 - Printing and Writing Paper Wholesalers

Loan Approval Date

12/6/2000

Loan Approval Gross Amount

$526,000

Loan Approval from the SBA

Of the total $526,000 loan amount, the SBA guaranteed $394,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Verlo Mattress Factory Stores franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 20 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from United Western Bank 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:

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