Durango, Colorado Bank Lends Money to Game, Toy, And Children's Vehicle Manufacturing Company in Mancos, Colorado

Get to know Durango, Colorado banks that specialize in SBA loans and know how to work with entrepreneurs. 1st National Bank - Durango is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Mancos, Colorado starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from 1st National Bank - Durango. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GAME, TOY, AND CHILDREN'S VEHICLE MANUFACTURING
MANCOS, CO 81328

SBA Loan Lender

1ST NATIONAL BANK - DURANGO
125 SAWYER DR
DURANGO, CO 81303

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339932 - Game, Toy, and Children's Vehicle Manufacturing

Loan Approval Date

4/7/2003

Loan Approval Gross Amount

$525,000

Loan Approval from the SBA

Of the total $525,000 loan amount, the SBA guaranteed $393,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 1st National Bank - Durango 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.

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