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November 15, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Greenwood Village, Business Loans > Community Banks Of Colorado Greenwood Village Business Loans > Auto And Home Supply Stores Loan | ||||
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Colorado Bank SBA Loans
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Community Banks Of Colorado SBA Loan to Auto And Home Supply Stores CompanyWant a Colorado business loan? Here's one Colorado business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gunnison, Colorado was able to borrow $305,000 from Community Banks Of Colorado. The SBA made the loan possible by guaranteeing $228,750 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: AUTO AND HOME SUPPLY STORES SBA Loan Lender COMMUNITY BANKS OF COLORADO Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5531 - Auto and Home Supply Stores Loan Approval Date 2/9/2000 Loan Approval Gross Amount $305,000 Loan Approval from the SBA Of the total $305,000 loan amount, the SBA guaranteed $228,750. 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 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job. 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding - Friends and Family Banks in Greenwood Village, Colorado
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