Drywall and Insulation Contractors Loans

Looking for loans for drywall and insulation contractors? The SBA may be the answer. This $124,000 drywall and insulation contractors loan was issued by a New Mexico bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Denver, Colorado was able to borrow $124,000 from First Community Bank. The SBA made the loan possible by guaranteeing $105,400 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYWALL AND INSULATION CONTRACTORS
DENVER, CO 80239

SBA Loan Lender

FIRST COMMUNITY BANK
120 W PLAZA
TAOS, NM 87571

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238310 - Drywall and Insulation Contractors

Loan Approval Date

6/16/2004

Loan Approval Gross Amount

$124,000

Loan Approval from the SBA

Of the total $124,000 loan amount, the SBA guaranteed $105,400.

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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

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

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Understanding Dilution

Who Lends Money to Small Businesses in Taos, New Mexico

Getting an SBA Loan in New Mexico