Entrepreneur Works With Hotchkiss, Colorado Bank to Get an SBA Loan

Get to know Hotchkiss, Colorado banks that specialize in small business loans and know how to work with entrepreneurs. First State Bank Of Hotchkiss is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Littleton, Colorado starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from First State Bank Of Hotchkiss. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
LITTLETON, CO 80120

SBA Loan Lender

FIRST STATE BANK OF HOTCHKISS
102 E BRIDGE ST
HOTCHKISS, CO 81419

This lender issued this debt financing under the 7A SBA 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

451110 - Sporting Goods Stores

Loan Approval Date

1/10/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 2 employees. This SBA loan request 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

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 First State Bank Of Hotchkiss 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:

Obtaining Funding - How to Borrow Money

SBA Approved Banks in Hotchkiss, Colorado

Colorado SBA Bank Lenders