Business Loan from Wyoming's First Fcu Given to Special Trade Contractors Company

Wyoming's First Fcu and the SBA work together to get business loans for growing small businesses. Here's an example of how a Wyoming entrepreneur was able to get a loan to take a small business to the next level.

This small firm knew how to go about getting a business bank loan. Based in Douglas, Wyoming, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Wyoming's First Fcu, based in Casper, Wyoming.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
DOUGLAS, WY 82633

SBA Loan Lender

WYOMING'S FIRST FCU
130 N ASH, STE 105
CASPER, WY 82601

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . 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. 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

235990 - Special Trade Contractors

Loan Approval Date

5/17/2001

Loan Approval Gross Amount

$35,700

Loan Approval from the SBA

Of the total $35,700 loan amount, the SBA guaranteed $30,345.

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. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wyoming's First Fcu and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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