Colorado Bank Loan Issued to Retail Stores Company

ColoradoBusiness loans are available to Colorado business owners through the SBA. In this case, a Massachusetts bank provides the loan.

Getting a small business loan in Colorado Springs, Colorado was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Lehman Brothers Bank, Fsb. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
COLORADO SPRINGS, CO 80920

SBA Loan Lender

LEHMAN BROTHERS BANK, FSB
101 SUMMER ST
BOSTON, MA 02110

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

Loan Approval Date

6/14/2000

Loan Approval Gross Amount

$461,000

Loan Approval from the SBA

Of the total $461,000 loan amount, the SBA guaranteed $345,750.

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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, 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:

Microlending as a Small Business Funding Source

Small Bank Loans in Boston, Massachusetts

Massachusetts SBA 7A Lenders