SBA Loan from Firstbank Of Longmont Helps General Merchandise Stores Company

An SBA loan from Firstbank Of Longmont typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Longmont, Colorado business owner got a $100,000 loan.

Getting a small business loan in Longmont, Colorado was an essential business goal for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Firstbank Of Longmont, operating out of Longmont, Colorado. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
LONGMONT, CO 80503

SBA Loan Lender

FIRSTBANK OF LONGMONT
1707 N MAIN ST
LONGMONT, CO 80501

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

9/7/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the business 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Firstbank Of Longmont that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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