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December 18, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Grand Junction, Business Loans > First National Bank - Rockies Grand Junction Business Loans > Full-Service Restaurants Loan | ||||
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We Needed an SBA Loan in Rangely, Colorado and We Got One!
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Financing for Full-Service RestaurantsLooking for loans for full-service restaurants? Try the SBA. This $75,000 full-service restaurants loan was issued by a Colorado bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rangely, Colorado was able to borrow $75,000 from First National Bank - Rockies. The SBA made the loan possible by guaranteeing $63,750 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender FIRST NATIONAL BANK - ROCKIES This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 10/10/2003 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $75,000 loan. Remember, if it to be, it is up to me! 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: Determining Proper Capital Structure for a Business SBA Approved Banks in Grand Junction, Colorado
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