1st National Bank - Durango SBA Loan to Basic Organic Chemical Manufacturing Company

1st National Bank - Durango has a track record as a leading provider of SBA loans. Find out how this Colorado entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with 1st National Bank - Durango, out of Durango, Colorado. The loan was granted and they received $250,000 to help grow their Durango, Colorado business.

SBA Loan Borrower

COMPANY TYPE: BASIC ORGANIC CHEMICAL MANUFACTURING
DURANGO, CO 81301

SBA Loan Lender

1ST NATIONAL BANK - DURANGO
259 W 9TH ST
DURANGO, CO 81301

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325199 - Basic Organic Chemical Manufacturing

Loan Approval Date

7/26/2004

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $250,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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