Business Loan from 1st National Bank - Durango Given to Primary Smelting And Refining Of Nonferrous Metal Company

1st National Bank - Durango is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Colorado entrepreneur who tapped into the power of SBA loans.

This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with 1st National Bank - Durango, out of Durango, Colorado. The loan was granted and they received $100,000 to help grow their Silverton, Colorado business.

SBA Loan Borrower

COMPANY TYPE: PRIMARY SMELTING AND REFINING OF NONFERROUS METAL
SILVERTON, CO 81433

SBA Loan Lender

1ST NATIONAL BANK - DURANGO
125 SAWYER DR
DURANGO, CO 81303

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

331419 - Primary Smelting and Refining of Nonferrous Metal

Loan Approval Date

8/26/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 2 employees. The loan application did not indicate that the business promised to use the money 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.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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

Good Banks for Small Business in Durango, Colorado

Colorado SBA 7A Banks