Rangely, Colorado Business Gets SBA-Guaranteed Funding from First National Bank - Rockies

An SBA loan from First National Bank - Rockies typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Rangely, Colorado business owner got a $47,000 loan.

Getting a small business loan in Rangely, Colorado was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First National Bank - Rockies, operating out of Rangely, Colorado. Here are the details on this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
RANGELY, CO 81648

SBA Loan Lender

FIRST NATIONAL BANK - ROCKIES
222 W MAIN
RANGELY, CO 81648

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

8/30/2002

Loan Approval Gross Amount

$47,000

Loan Approval from the SBA

Of the total $47,000 loan amount, the SBA guaranteed $39,950.

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 only one employee. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First National Bank - Rockies so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 - How to Borrow Money

Small Bank Loans in Rangely, Colorado

SBA Participating Banks in Colorado