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December 22, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > New York, Business Loans > Newtek Small Business Finance Inc. New York Business Loans > Motor Vehicle Dealers Loan | ||||
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Colorado Springs, Colorado Bank Loan
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Colorado SBA Loan Issued to Motor Vehicle Dealers CompanyBusiness loans in Colorado are hard to find these days. We take a look at one Colorado business loan, provided by a New York bank, that was approved by the SBA. Getting a small business loan in Colorado Springs, Colorado was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Newtek Small Business Finance Inc.. Here are the details on this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE DEALERS SBA Loan Lender NEWTEK SMALL BUSINESS FINANCE INC. 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 441229 - Motor Vehicle Dealers Loan Approval Date 4/11/2006 Loan Approval Gross Amount $93,000 Loan Approval from the SBA Of the total $93,000 loan amount, the SBA guaranteed $79,050. 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 documents indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Best Banks in New York, New York
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