Longmont, CO Entrepreneur Gets SBA Loan to Buy Kitchen Savers Franchise

Need a loan to buy a Kitchen Savers franchise? Firstbank Of Longmont has a history of making these loans and they are guaranteed by the SBA.

Kitchen Savers franchise loans are available to Longmont, Colorado entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Firstbank Of Longmont, based in Longmont, Colorado, issued an SBA franchise loan for a Kitchen Savers franchise in 2005. We've got all the details on this Colorado small business loan.

SBA Loan Borrower

KITCHEN SOLVERS OF BOULDER CO
LONGMONT, CO 80501

SBA Loan Lender

FIRSTBANK OF LONGMONT
1707 N MAIN ST
LONGMONT, CO 80501

This lender issued this particular SBA bank 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

238350 - Finish Carpentry Contractors

Loan Approval Date

3/8/2005

Loan Approval Gross Amount

$43,000

Loan Approval from the SBA

Of the total $43,000 loan amount, the SBA guaranteed $36,550.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Kitchen Savers franchise. At the time of the loan, the company had 3 employees. This SBA loan request 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

Although it's called an SBA loan, you 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Firstbank Of Longmont and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Small Business Credit Cards

Small Business Banks in Longmont, Colorado

Getting an SBA Loan in Colorado