Colorado Small Business Loan Issued to Beer, Wine, And Liquor Stores Company

Searching for a Colorado SBA loan? This Colorado entrepreneur got an SBA loan, provided by a Colorado bank that works with the SBA to help small business owners.

Getting a small business loan in Monte Vista, Colorado was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Del Norte Federal Bank. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: BEER, WINE, AND LIQUOR STORES
MONTE VISTA, CO 81144

SBA Loan Lender

DEL NORTE FEDERAL BANK
705 GRAND AVE
DEL NORTE, CO 81132

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

5/15/2001

Loan Approval Gross Amount

$131,500

Loan Approval from the SBA

Of the total $131,500 loan amount, the SBA guaranteed $111,775.

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 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 Del Norte Federal Bank 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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