Local Business Gets a Colorado Bank Loan
ColoradoBusiness loans are available to Colorado business owners through the SBA. In this case, a Minnesota bank provides the loan.
You can learn something about getting a small business loan in Lakewood, Colorado by studying this loan to a local business, made back in 2003. Banks like Wells Fargo Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: FLIGHT TRAINING
LAKEWOOD, CO 80227
SBA Loan Lender
WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408
This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring 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
611512 - Flight Training
Loan Approval Date
3/14/2003
Loan Approval Gross Amount
$133,000
Loan Approval from the SBA
Of the total $133,000 loan amount, the SBA guaranteed $113,050.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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:
Equity Financing
Find an SBA Lender in Minneapolis, Minnesota
Where to Get an SBA Loan Minnesota