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November 15, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Hotchkiss, Business Loans > First State Bank Of Hotchkiss Hotchkiss Business Loans > Hotels And Motels Loan | ||||
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Business Loan from First State Bank Of Hotchkiss
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First State Bank Of Hotchkiss SBA Loan to Hotels And Motels CompanyAn 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 Hotchkiss, Colorado business owner got a $826,000 loan. This growing company knew how to go about getting a business bank loan. Based in Hotchkiss, Colorado, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was First State Bank Of Hotchkiss, based in Hotchkiss, Colorado. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender FIRST STATE BANK OF HOTCHKISS SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 7/31/2001 Loan Approval Gross Amount $826,000 Loan Approval from the SBA Of the total $826,000 loan amount, the SBA guaranteed $619,500. 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 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First State Bank Of Hotchkiss and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA 7A Banks for Hotchkiss, Colorado Loans
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