Commercial Loans for Building Equipment Contractors
With these commercial loans for building equipment contractors, the SBA guarantees the lender that the loan will be repaid. This building equipment contractors loan for $60,000 was given to a Colorado entrepreneur in 2005.
Getting a small business loan in Ignacio, Colorado was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Durango, operating out of Durango, Colorado. Here are the details on this Colorado small business loan.
SBA Loan Borrower
COMPANY TYPE: BUILDING EQUIPMENT CONTRACTORS
IGNACIO, CO 81137
SBA Loan Lender
1ST NATIONAL BANK - DURANGO
259 W 9TH ST
DURANGO, CO 81301
This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
238290 - Building Equipment Contractors
Loan Approval Date
9/30/2005
Loan Approval Gross Amount
$60,000
Loan Approval from the SBA
Of the total $60,000 loan amount, the SBA guaranteed $51,000.
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 only one employee. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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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