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November 25, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Birmingham, Business Loans > Compass Bank Birmingham Business Loans > Used Car Dealers Loan | ||||
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Business Loans for Denver Small Business Owners
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Used Car Dealers LoansWith these loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $40,000 was given to a Colorado entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Denver, Colorado was able to borrow $40,000 from Compass Bank. The SBA made the loan possible by guaranteeing $20,000 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender COMPASS BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 441120 - Used Car Dealers Loan Approval Date 8/4/2006 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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 3 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. This SBA loan was for $40,000. How would you spend $40,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best Banks in Birmingham, Alabama
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