Torrington, Wyoming Business Gets SBA-Guaranteed Funding from Tri-County National Bank

An SBA loan from Tri-County National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Torrington, Wyoming business owner got a $40,000 loan.

Getting a small business loan in Torrington, Wyoming was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Tri-County National Bank, operating out of Cheyenne, Wyoming. Here are the details on this Wyoming small business loan.

SBA Loan Borrower

COMPANY TYPE: CARPET AND UPHOLSTERY CLEANING
TORRINGTON, WY 82240

SBA Loan Lender

TRI-COUNTY NATIONAL BANK
421 VANDEHEI AVE
CHEYENNE, WY 82003

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program requires 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.

SIC Code

7217 - Carpet and Upholstery Cleaning

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

9/12/2000

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $32,000.

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. This SBA loan request 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 make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Tri-County National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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

Small Business Banks in Cheyenne, Wyoming

SBA Wyoming Banks