Tire Dealers Business Loans

With these business loans for tire dealers, the SBA guarantees the lender that the loan will be repaid. This tire dealers loan for $50,000 was given to a Colorado entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Wellington, Colorado, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was First National Bank, based in Fort Collins, Colorado.

SBA Loan Borrower

COMPANY TYPE: TIRE DEALERS
WELLINGTON, CO 80549

SBA Loan Lender

FIRST NATIONAL BANK
205 W OAK ST
FORT COLLINS, CO 80521

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441320 - Tire Dealers

Loan Approval Date

3/15/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Debt Financing

Who Lends Money to Small Businesses in Fort Collins, Colorado

SBA Lenders in Colorado