Local Business Gets a Colorado Business Loan

Business loans in Colorado are tough to come by these days. We take a look at one Colorado business loan, provided by a Colorado bank, that was approved by the SBA.

You can learn something about getting a small business loan in Grand Junction, Colorado by studying this loan to a local business, made back in 2005. Banks like First State Bank Of Hotchkiss may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING
GRAND JUNCTION, CO 81505

SBA Loan Lender

FIRST STATE BANK OF HOTCHKISS
102 E BRIDGE ST
HOTCHKISS, CO 81419

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

484121 - General Long-Distance Freight Trucking

Loan Approval Date

11/23/2005

Loan Approval Gross Amount

$68,500

Loan Approval from the SBA

Of the total $68,500 loan amount, the SBA guaranteed $34,250.

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 15 employees. The loan application indicated that the loan would help retain 15 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First State Bank Of Hotchkiss so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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SBA Approved Banks in Hotchkiss, Colorado

Getting an SBA Loan in Colorado