La Junta, Colorado Business Gets SBA-Guaranteed Funding from The State Bank

An SBA loan from The State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a La Junta, Colorado business owner got a $117,500 loan.

Getting a small business loan in La Junta, Colorado was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from The State Bank, operating out of La Junta, Colorado. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
LA JUNTA, CO 81050

SBA Loan Lender

THE STATE BANK
124 COLORADO AVE
LA JUNTA, CO 81050

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

10/24/2002

Loan Approval Gross Amount

$117,500

Loan Approval from the SBA

Of the total $117,500 loan amount, the SBA guaranteed $99,875.

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 7 employees. The SBA loan documents did not indicate that the company promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a business in La Junta CO, you ought to talk with a local La Junta SBA lender or talk with an out-of-area SBA lender that has previously loaned money to La Junta businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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