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November 15, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Truck Rental And Leasing, Without Drivers Loan | ||||
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Bank Of The West Conifer, Colorado
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Bank Of The West SBA Loan to Truck Rental And Leasing, Without Drivers CompanyBank Of The West has a track record as a leading provider of SBA loans. Find out how this Colorado entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Conifer, Colorado was able to borrow $389,000 from Bank Of The West. The SBA made the loan possible by guaranteeing $291,750 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: TRUCK RENTAL AND LEASING, WITHOUT DRIVERS SBA Loan Lender BANK OF THE WEST 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. SIC Code 7513 - Truck Rental and Leasing, Without Drivers NAICS Code 532120 - Truck, Utility Trailer, and RV Rental and Leasing Loan Approval Date 3/2/2000 Loan Approval Gross Amount $389,000 Loan Approval from the SBA Of the total $389,000 loan amount, the SBA guaranteed $291,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. This SBA loan request indicated that the loan would help retain 9 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Realistic Debt Financing Options SBA Banks in Salt Lake City, Utah
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