Colorado Small Business Loan Issued to Medicinal And Botanical Manufacturing Company

Looking to get a Colorado small business loan? This Colorado entrepreneur got a small business loan, provided by an Utah bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in La Salle, Colorado by studying this loan to a local company, made back in 2002. Banks like Bank Of The West may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: MEDICINAL AND BOTANICAL MANUFACTURING
LA SALLE, CO 80645

SBA Loan Lender

BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325411 - Medicinal and Botanical Manufacturing

Loan Approval Date

9/20/2002

Loan Approval Gross Amount

$224,500

Loan Approval from the SBA

Of the total $224,500 loan amount, the SBA guaranteed $168,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 8 existing jobs.

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

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

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of The West so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Getting a Small Business Loan

Best Salt Lake City, Utah Banks for Small Business

SBA Lenders in Utah