Vectra Bank Colorado SBA Loan to Support Activities For Oil And Gas Operations Company

An SBA loan from Vectra Bank Colorado typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Dolores, Colorado business owner got a $50,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dolores, Colorado was able to borrow $50,000 from Vectra Bank Colorado. The SBA made the loan possible by guaranteeing $25,000 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR OIL AND GAS OPERATIONS
DOLORES, CO 81323

SBA Loan Lender

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

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

213112 - Support Activities for Oil and Gas Operations

Loan Approval Date

6/8/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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