Business Loan from Community Banks Of Colorado Given to Shoe Stores Company

Community Banks Of Colorado has a track record as a leading provider of SBA loans. Find out how this Colorado entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Crested Butte, Colorado, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Community Banks Of Colorado, based in Greenwood Village, Colorado.

SBA Loan Borrower

COMPANY TYPE: SHOE STORES
CRESTED BUTTE, CO 81224

SBA Loan Lender

COMMUNITY BANKS OF COLORADO
5690 SOUTH DTC BLVD, STE 450
GREENWOOD VILLAGE, CO 80111

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring 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

448210 - Shoe Stores

Loan Approval Date

4/19/2004

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Community Banks Of Colorado so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Determining Proper Capital Structure for a Business

SBA Banks in Greenwood Village, Colorado

Getting a Business Loan in Colorado