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December 18, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Grand Junction, Business Loans > First National Bank - Rockies Grand Junction Business Loans > General Automotive Repair Loan | ||||
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SBA Lenders Colorado
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Entrepreneur Works With Grand Junction, Colorado Bank to Get an SBA LoanFind Grand Junction, Colorado banks that specialize in SBA loans and know how to work with entrepreneurs. First National Bank - Rockies is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Hayden, Colorado starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from First National Bank - Rockies. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender FIRST NATIONAL BANK - ROCKIES This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 5/18/2005 Loan Approval Gross Amount $104,000 Loan Approval from the SBA Of the total $104,000 loan amount, the SBA guaranteed $88,400. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Accountant's Role in Securing Financing SBA 7A Banks in Grand Junction, Colorado Where to Get an SBA Loan Colorado
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