Durango, Colorado Business Gets SBA-Guaranteed Funding from 1st National Bank - Durango

An SBA loan from 1st National Bank - Durango typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Durango, Colorado business owner got a $195,415 loan.

Getting a small business loan in Durango, Colorado was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Durango, operating out of Durango, Colorado. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
DURANGO, CO 81301

SBA Loan Lender

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

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

7/18/2007

Loan Approval Gross Amount

$195,415

Loan Approval from the SBA

Of the total $195,415 loan amount, the SBA guaranteed $146,561.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the funding would help generate 4 new jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 $195,415 loan. Remember, anyone can do it... so why not you?

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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