Growing Company Gets a Colorado Small Business Loan

Bank loans in Colorado are hard to find these days. We take a look at one Colorado bank loan, provided by a Colorado bank, that was approved by the SBA.

Getting a small business loan in La Veta, Colorado was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Community Banks Of Colorado. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
LA VETA, CO 81055

SBA Loan Lender

COMMUNITY BANKS OF COLORADO
501 MAIN ST
WALSENBURG, CO 81089

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721191 - Bed-and-Breakfast Inns

Loan Approval Date

10/10/2002

Loan Approval Gross Amount

$179,000

Loan Approval from the SBA

Of the total $179,000 loan amount, the SBA guaranteed $134,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $179,000 loan. Remember, things become real when you believe you can achieve them!

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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