Local Business Gets a Colorado Business Loan

Would a Colorado business loan help your company expand? If so, you may want to talk with this New Mexico bank, which offers SBA loans to Colorado entrepreneurs.

This company, based in Denver, Colorado, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Vectra Bank Colorado. We've got the inside scoop on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: SNACK FOOD MANUFACTURING
DENVER, CO 80239

SBA Loan Lender

VECTRA BANK COLORADO
2000 E 20TH ST
FARMINGTON, NM 87401

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311919 - Snack Food Manufacturing

Loan Approval Date

1/18/2008

Loan Approval Gross Amount

$670,000

Loan Approval from the SBA

Of the total $670,000 loan amount, the SBA guaranteed $502,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4847 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 30 existing jobs.

Getting an SBA Loan For Your Business

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $670,000 loan. Remember, where there is a will, there is a way!

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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