Lakewood, Colorado Entrepreneur Gets an SBA Loan

Would a Colorado SBA loan help your business get to the next level? If so, you may want to talk with this Texas bank, which offers SBA loans to Colorado entrepreneurs.

Getting a small business loan in Lakewood, Colorado was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
LAKEWOOD, CO 80124

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/21/2000

Loan Approval Gross Amount

$855,000

Loan Approval from the SBA

Of the total $855,000 loan amount, the SBA guaranteed $641,250.

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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Comerica Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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