How to Get a Loan for Prerecorded Tape, Compact Disc, and Record Stores
With these business loans for prerecorded tape, compact disc, and record stores, the SBA guarantees the lender that the loan will be repaid. This prerecorded tape, compact disc, and record stores loan for $270,000 was given to a Colorado entrepreneur in 2003.
This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Premier Bank, out of Denver, Colorado. The loan was granted and they received $270,000 to help grow their Denver, Colorado business.
SBA Loan Borrower
COMPANY TYPE: PRERECORDED TAPE, COMPACT DISC, AND RECORD STORES
DENVER, CO 80220
SBA Loan Lender
PREMIER BANK
1630 STOUT ST
DENVER, CO 80202
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
451220 - Prerecorded Tape, Compact Disc, and Record Stores
Loan Approval Date
11/12/2003
Loan Approval Gross Amount
$270,000
Loan Approval from the SBA
Of the total $270,000 loan amount, the SBA guaranteed $202,500.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 SBA funding recipient promised to use the funding to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Premier Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
Business Credit Evaluation
Banks in Denver, Colorado
SBA Lenders in Colorado