Entrepreneur Works With Grand Junction, Colorado Bank to Get an SBA Loan

Thinking about meeting with a Grand Junction, Colorado bank about a business loan? Here's one Colorado business loan, issued by a Grand Junction bank, that was approved by the SBA.

Applying for an SBA loan with First National Bank - Rockies worked out well for our friends at one local business in Hayden, Colorado. They got an SBA loan for $52,600. Great job!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
HAYDEN, CO 81639

SBA Loan Lender

FIRST NATIONAL BANK - ROCKIES
2452 US HWY 6 & 50
GRAND JUNCTION, CO 81505

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/30/2004

Loan Approval Gross Amount

$52,600

Loan Approval from the SBA

Of the total $52,600 loan amount, the SBA guaranteed $44,710.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 5 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank - Rockies had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First National Bank - Rockies made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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