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November 21, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Machine Shops Loan | ||||
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Colorado SBA Loans from Bank Of The West
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Norwood, Colorado Business Gets SBA-Guaranteed Funding from Bank Of The WestBank Of The West has a track record as a leading provider of SBA loans. Find out how this Colorado entrepreneur received an SBA loan from them. Getting a small business loan in Norwood, Colorado was an essential business goal for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bank Of The West, operating out of Salt Lake City, Utah. Here are the details on this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender BANK OF THE WEST This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332710 - Machine Shops Loan Approval Date 6/18/2004 Loan Approval Gross Amount $222,300 Loan Approval from the SBA Of the total $222,300 loan amount, the SBA guaranteed $166,725. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs. Next Steps for Getting an SBA Loan 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 Bank Of The West 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: Obtaining Funding - Friends and Family Best Salt Lake City, Utah Banks for Small Business
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