Crested Butte, Colorado Business Gets SBA-Guaranteed Funding from Gunnison Bank & Trust

Gunnison Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a Colorado entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Crested Butte, Colorado was an essential business goal for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Gunnison Bank & Trust, operating out of Gunnison, Colorado. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
CRESTED BUTTE, CO 81224

SBA Loan Lender

GUNNISON BANK & TRUST
232 W TOMICHI AVE
GUNNISON, CO 81230

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

5/3/2004

Loan Approval Gross Amount

$83,000

Loan Approval from the SBA

Of the total $83,000 loan amount, the SBA guaranteed $70,550.

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 only one employee. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

While you may be able to find other ways to get money to start a business, 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.

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