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November 22, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Durango, Business Loans > 1st National Bank - Durango Durango Business Loans > Video Tape And Disc Rental Loan | ||||
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SBA 7A Banks That Lend to Colorado Small Business Owners
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1st National Bank - Durango Gives SBA Loan to Video Tape And Disc Rental CompanyColoradoBank loans are available to Colorado firms through the SBA. In this case, a Colorado bank provides the loan. You can learn something about getting a small business loan in Durango, Colorado by studying this loan to a local company, made back in 2003. Banks like 1st National Bank - Durango may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: VIDEO TAPE AND DISC RENTAL SBA Loan Lender 1ST NATIONAL BANK - DURANGO This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 532230 - Video Tape and Disc Rental Loan Approval Date 4/1/2003 Loan Approval Gross Amount $81,500 Loan Approval from the SBA Of the total $81,500 loan amount, the SBA guaranteed $69,275. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. 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 1st National Bank - Durango 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. Related Links: Where to Get an SBA Loan in Durango, Colorado
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