Grand Junction, Colorado Business Gets SBA-Guaranteed Funding from Grand Valley National Bank

Grand Valley National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Colorado entrepreneur who tapped into the power of SBA loans.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Grand Valley National Bank, out of Heber City, Utah. The loan was granted and they received $700,000 to help grow their Grand Junction, Colorado business.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
GRAND JUNCTION, CO 81501

SBA Loan Lender

GRAND VALLEY NATIONAL BANK
2 S MAIN ST
HEBER CITY, UT 84032

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.

SIC Code

5712 - Furniture Stores

NAICS Code

337110 - Wood Kitchen Cabinet and Countertop Manufacturing

Loan Approval Date

3/17/2003

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

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 4 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Grand Junction CO, you ought to talk with a local Grand Junction SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grand Junction businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Grand Valley National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for 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.

Related Links:

Financing Your Business

SBA Banks in Heber City, Utah

SBA Lenders in Utah