Loan Census Banking News and Information
December 22, 2024  
 
 
  Business Loan Information  
 

Colorado Springs, Colorado Bank Loan

 

 
Loan Census SBA Loan Info

Colorado Entrepreneur Secures Financing to Buy Granite Transformations Franchise

Borrowing money to purchase a Granite Transformations franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Colorado Springs, Colorado needed money to invest in a Granite Transformations franchise back in 2004. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Colorado small business loan.

SBA Loan Borrower

MISB, LLC
COLORADO SPRINGS, CO 80915

SBA Loan Lender

WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

9/2/2004

Loan Approval Gross Amount

$112,000

Loan Approval from the SBA

Of the total $112,000 loan amount, the SBA guaranteed $95,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Granite Transformations franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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.

We can help you find the best banks for small businesses in Colorado Springs or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Granite Transformations

Role of Business Plan When Raising Money

SBA Approved Banks in San Jose, California

California SBA Banks