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

Want to talk with a Limon, Colorado bank about a business loan? Here's one Colorado business loan, issued by a Limon bank, that was approved by the SBA.

Applying for an SBA loan with Mile High Banks worked out well for our friends at one local business in Longmont, Colorado. They received an SBA loan for $88,300. Awesome!

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LONGMONT, CO 80504

SBA Loan Lender

MILE HIGH BANKS
790 MAIN ST, STE 200
LIMON, CO 80828

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/15/2004

Loan Approval Gross Amount

$88,300

Loan Approval from the SBA

Of the total $88,300 loan amount, the SBA guaranteed $75,055.

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 18 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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

Banks in Limon, Colorado

Getting an SBA Loan in Colorado