Caterers Commercial Loans

With these commercial loans for caterers, the SBA guarantees the lender that the loan will be repaid. This caterers loan for $150,000 was given to a Colorado entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lakewood, Colorado was able to borrow $150,000 from Bank Of Choice-Colorado. The SBA made the loan possible by guaranteeing $127,500 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: CATERERS
LAKEWOOD, CO 80226

SBA Loan Lender

BANK OF CHOICE-COLORADO
7530 GRANDVIEW AVE
ARVADA, CO 80002

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722320 - Caterers

Loan Approval Date

3/8/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of Choice-Colorado and they will explain how you can get an SBA loan for your company.

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:

Determining Proper Capital Structure for a Business

SBA Approved Banks in Arvada, Colorado

Colorado SBA Bank Lenders