Growing Company Gets a Colorado SBA Loan

Bank loans in Colorado are are few and far betweeen 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 U.S. Bank National Association, this Montrose, 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: 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 SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

$73,180

Loan Approval from the SBA

Of the total $73,180 loan amount, the SBA guaranteed $54,885.

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. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like U.S. Bank National Association are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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