First National Bank - Las Animas SBA Loan to Clothing Stores Company

An SBA loan from First National Bank - Las Animas typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Fowler, Colorado business owner got a $85,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fowler, Colorado was able to borrow $85,000 from First National Bank - Las Animas. The SBA made the loan possible by guaranteeing $72,250 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
FOWLER, CO 81039

SBA Loan Lender

FIRST NATIONAL BANK - LAS ANIMAS
117 MAIN ST
FOWLER, CO 81039

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448190 - Clothing Stores

Loan Approval Date

5/3/2004

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

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 only one employee. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $85,000. How would you spend $85,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Banking Deregulation's Effects on Entrepreneurship

Find an SBA Lender in Fowler, Colorado

Getting an SBA Loan in Colorado