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November 15, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Alamosa, Business Loans > First Southwest Bank Alamosa Business Loans > Physical, Occupational And Speech Therapists, And Audiologists Loan | ||||
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First Southwest Bank Business Loan Pagosa Springs, Colorado
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First Southwest Bank SBA Loan to Physical, Occupational And Speech Therapists, And Audiologists CompanyFirst Southwest Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Colorado entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Pagosa Springs, 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 First Southwest Bank, operating out of Alamosa, Colorado. Here are the details on this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICAL, OCCUPATIONAL AND SPEECH THERAPISTS, AND AUDIOLOGISTS SBA Loan Lender FIRST SOUTHWEST BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring 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 621340 - Physical, Occupational and Speech Therapists, and Audiologists Loan Approval Date 5/24/2004 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 3 employees. This SBA loan request did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA 7A Lenders in Alamosa, Colorado Getting an SBA Loan in Colorado
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