Small Business Loans for Structural Steel Erection Contractors

With these small business loans for structural steel erection contractors, the SBA guarantees the lender that the loan will be repaid. This structural steel erection contractors loan for $431,000 was given to a Colorado entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Silver Cliff, Colorado was able to borrow $431,000 from First State Bank Of Hotchkiss. The SBA made the loan possible by guaranteeing $323,250 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: STRUCTURAL STEEL ERECTION CONTRACTORS
SILVER CLIFF, CO 81252

SBA Loan Lender

FIRST STATE BANK OF HOTCHKISS
102 E BRIDGE ST
HOTCHKISS, CO 81419

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235910 - Structural Steel Erection Contractors

Loan Approval Date

6/22/2001

Loan Approval Gross Amount

$431,000

Loan Approval from the SBA

Of the total $431,000 loan amount, the SBA guaranteed $323,250.

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 12 employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First State Bank Of Hotchkiss had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First State Bank Of Hotchkiss made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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