Where to Get Capital for Farm and Garden Machinery and Equipment Wholesalers

With these SBA loans for farm and garden machinery and equipment wholesalers, the SBA guarantees the lender that the loan will be repaid. This farm and garden machinery and equipment wholesalers loan for $375,000 was given to a Colorado entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Wiley, Colorado, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Valley National Bank A Branch -, based in Lamar, Colorado.

SBA Loan Borrower

COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT WHOLESALERS
WILEY, CO 81092

SBA Loan Lender

VALLEY NATIONAL BANK A BRANCH -
204 S 4TH ST
LAMAR, CO 81052

This lender issued this SBA small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421820 - Farm and Garden Machinery and Equipment Wholesalers

Loan Approval Date

2/6/2004

Loan Approval Gross Amount

$375,000

Loan Approval from the SBA

Of the total $375,000 loan amount, the SBA guaranteed $281,250.

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. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Valley National Bank A Branch - are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Banking Deregulation's Effects on Entrepreneurship

Small Bank Loans in Lamar, Colorado

Colorado SBA 7A Lenders