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December 23, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Durango, Business Loans > Bank Of Colorado Durango Business Loans > Continuing Care Retirement Communities Loan | ||||
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Colorado Small Business SBA Loans
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Mancos, Colorado Entrepreneur Gets a Bank LoanBank loans in Colorado are hard to find these days. We take a look at one Colorado bank loan, provided by a Colorado bank, that was approved by the SBA. By giving the right information to Bank Of Colorado, this Mancos, Colorado business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: CONTINUING CARE RETIREMENT COMMUNITIES SBA Loan Lender BANK OF COLORADO This business loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 623311 - Continuing Care Retirement Communities Loan Approval Date 8/1/2001 Loan Approval Gross Amount $288,000 Loan Approval from the SBA Of the total $288,000 loan amount, the SBA guaranteed $216,000. 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 85 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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 Bank Of Colorado 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: SBA 7A Banks for Durango, Colorado Loans Find an SBA Lender in Colorado
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