SBA Loan from U.S. Bank National Association Helps Canvas And Related Products Company

U.S. Bank National Association is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Colorado entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Montrose, Colorado was able to borrow $288,750 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $216,563 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: CANVAS AND RELATED PRODUCTS
MONTROSE, CO 81401

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
1500 E OAK GROVE
MONTROSE, CO 81402

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2394 - Canvas and Related Products

NAICS Code

314912 - Canvas and Related Product Mills

Loan Approval Date

6/25/2002

Loan Approval Gross Amount

$288,750

Loan Approval from the SBA

Of the total $288,750 loan amount, the SBA guaranteed $216,563.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 17 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like U.S. Bank National Association that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Incubators

Where to Get an SBA Loan in Montrose, Colorado

SBA Lenders in Colorado