Gunnison, Colorado Business Gets SBA-Guaranteed Funding from First State Bank Of Hotchkiss

An SBA loan from First State Bank Of Hotchkiss typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Gunnison, Colorado business owner got a $1,000,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Gunnison, Colorado, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was First State Bank Of Hotchkiss, based in Hotchkiss, Colorado.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
GUNNISON, CO 81230

SBA Loan Lender

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

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

1/6/2003

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 12 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Gunnison CO, you ought to talk with a local Gunnison SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Gunnison businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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